UK CPI slowed more than expected from 2.2% yoy to 1.7% yoy in September, below expectation of 1.9% yoy.
Core CPI (excluding energy, food, alcohol and tobacco) slowed from 3.6% yoy to 3.2% yoy, below expectation of 3.4% yoy.
CPI goods fell from -0.9% yoy to -1.4% yoy. CPI services also slowed from 5.6% yoy to 4.9% yoy.
ONS Chief Economist Grant Fitzner says:
“Inflation eased in September to its lowest annual rate in over three years. Lower airfares and petrol prices were the biggest driver for this month’s fall.
“These were partially offset by increases for food and non-alcoholic drinks, the first time that food price inflation has strengthened since early last year.
“Meanwhile the cost of raw materials for businesses fell again, driven by lower crude oil prices.”
 slowed from 3.6% yoy to 3.2% yoy, below expectation of 3.4% yoy.CPI goods fell from -0.9% yoy to -1.4% yoy. CPI services also slowed from 5.6% yoy to 4.9% yoy.){kind=link}