Home Business news Why September’s dip in UK inflation may be a false dawn

Why September’s dip in UK inflation may be a false dawn

21

Analysis: Covid support schemes have distorted official data and experts fear inflation will resume its ascent

Just when everyone was preparing for a stratospheric rise in September’s consumer prices index from August’s 3.2%, the Office for National Statistics said it fell to 3.1%.

Anyone concerned about rising prices could be forgiven for thinking that the momentum building in recent months had slipped a gear and forecasts of inflation running away to 4% or even 5% next spring could joyfully be put in the bin.

Continue reading…Analysis: Covid support schemes have distorted official data and experts fear inflation will resume its ascentUK inflation falls despite supply crisis and rising petrol pricesCoronavirus – latest updatesSee all our coronavirus coverageJust when everyone was preparing for a stratospheric rise in September’s consumer prices index from August’s 3.2%, the Office for National Statistics said it fell to 3.1%.Anyone concerned about rising prices could be forgiven for thinking that the momentum building in recent months had slipped a gear and forecasts of inflation running away to 4% or even 5% next spring could joyfully be put in the bin. Continue reading…