UK Inflation Dips Slightly During September

The underlying rate of UK inflation dipped slightly to 2.8% during September, according to the latest figures from the Office of National Statistics.

A fall in the price of clothes and shoes were the biggest downward influences on the figures. However, the impact was minimised by the hot summer, which pushed food costs higher.

The headline rate of inflation, which includes mortgage interest payments, also dropped during September and edged closer to the Government’s target of 2.5%. UK inflation has remained above this level for 11 months in a row.

The Harmonised Index of Consumer Prices, which the Government is set to begin targeting, remained unchanged at 1.4% in September.

The all items Retail Prices Index for September 2003 was 182.5.

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