UK CPI holds steady at 6.7% YoY increase in September 2023

The CPI for clothing and footwear increased by 6.9 per cent YoY in September 2023. On a monthly basis, the overall CPI rose by 0.5 per cent, mirroring the rate observed in September 2022. Specifically for clothing and footwear, the monthly CPI saw a more substantial rise of 2.9 per cent.

In terms of core CPI, which excludes volatile components like energy, food, alcohol, and tobacco, there was a slight decline. It rose by 6.1 per cent in the 12 months to September 2023, compared to 6.2 per cent in August. Meanwhile, the CPI goods annual rate also marginally decreased from 6.3 per cent to 6.2 per cent.

The consumer prices index including owner occupiers' housing costs (CPIH) maintained a YoY rise of 6.3 per cent, identical to the rate in August 2023. On a monthly comparison, the CPIH increased by 0.5 per cent in September 2023, slightly higher than the 0.4 per cent growth recorded in September 2022.

ALCHEMPro News Desk (DP)