Tags: EU | Britain | Economy

UK Inflation Spikes to near 2-year High in September

Tuesday, 18 October 2016 05:54 AM EDT

LONDON (AP) — Britain's statistics agency says inflation in the country spiked to a near two-year high of 1 percent in the year to September from 0.6 percent in August.

The Office for National Statistics said Tuesday that clothing, hotels and motor fuels drove the rate up to its highest level since Nov. 2014. A fall in air fares and food prices helped mitigate the increase.

Inflation is expected to tick up over the coming months as import prices increase in the wake of the pound's sharp fall in the currency markets following Britain's vote in June to leave the European Union.

However, the agency's head of inflation, Mike Prestwood, says there is little evidence yet to suggest that the "lower pound is pushing up the prices of everyday consumer goods."

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Britain's statistics agency says inflation in the country spiked to a near two-year high of 1 percent in the year to September from 0.6 percent in August.The Office for National Statistics said Tuesday that clothing, hotels and motor fuels drove the rate up to its highest...
EU,Britain,Economy
130
2016-54-18
Tuesday, 18 October 2016 05:54 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved