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Inflation drops in September

Inflation fell to its lowest rate in three years in September at 2.2% down from 2.5% in August.

It is the lowest rate of inflation since November 2009 when the Consumer Prices Index (CPI) was at 1.9%.

The Office for National Statistics (ONS) said the majority of the downward pressure to change the CPI came from the housing & household services sector with September 2011’s utility bill rises falling out of the index calculation.

There were significant upward pressures fuel costs, recreation & culture and miscellaneous goods & services sectors.

The Retail Prices Index (RPI) annual inflation stands at 2.6% in September 2012, down from 2.9% in August.

As with the CPI, by far the largest downward pressure to the change in the RPI came as a result of September 2011’s utility bill rises falling out of the index calculation.

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