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UK CPI fell 0.1% in September

FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) on Tuesday showed the cost of living as measured by the consumer price index (CPI) fell 0.1% m/m in September compared to 0.0% in August.

The first sub-zero reading since 1960 was seen in April. The annualised CPI also fell 0.1%. Meanwhile, core CPI remained unchanged at 1.0%, missing the estimated rise to 1.1% from August’s 1.0%.

As per the official report, a smaller than usual rise in clothing prices and falling motor fuel prices were the main contributors to the fall in the rate. The retail-price measure of inflation slowed to 0.8% from 1.1%, the least since November 2009.

The BOE said last week that its near-term outlook for inflation had weakened since August and that the CPI may stay below 1% until spring 2016.

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