Rate of inflation remained steady in September, data shows

18 Oct 2023

Data published by the Office for National Statistics (ONS) has shown that the rate of inflation remained steady at 6.7% in September 2023.

The ONS revealed that the CPI rose by 6.7% in the 12 months to September, the same rate as was recorded in August. The CPIH, which includes owner occupiers' housing costs, rose by 6.3% during this time.

Core CPI, which excludes energy, food, alcohol and tobacco, rose by 6.1% in the 12 months to September 2023, down from 6.2% in August. According to the ONS, the CPI services annual rate rose from 6.8% to 6.9%, while the CPI goods rate fell slightly from 6.3% to 6.2%.

Responding to the data, David Bharier, Head of Research at the British Chambers of Commerce (BCC), said: 'Today's figure, showing the CPI is stuck at 6.7%, shows that inflation for consumers remains stubborn.

'Businesses need clarity on interest rates, as well as a longer-term plan for growth in the economy, focusing on infrastructure, skills and alleviating trade barriers.'