UK inflation came in softer than expected in September. Headline CPI was unchanged at 3.8% yoy, below consensus of 4.0%. Core CPI (excluding energy, food, alcohol and tobacco) eased to 3.5% from 3.6%.
Breakdowns showed a mixed picture under the surface. CPI goods component rose marginally from 2.8% yoy to 2.9%, highest since October 2023. Services inflation held unchanged at 4.7%.
On a monthly basis, consumer prices were flat, another sign that the inflation pulse has moderated heading into the final quarter of the year.
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