{"id":114823,"date":"2024-10-16T14:46:49","date_gmt":"2024-10-16T07:46:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=114823"},"modified":"2024-10-16T14:46:49","modified_gmt":"2024-10-16T07:46:49","slug":"uk-inflation-september-2024","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=114823","title":{"rendered":"UK inflation September 2024"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108048229\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A wet Piccadilly Circus during a rainy morning in the West End, on 26th September 2024, in London, England.\u00a0<\/p>\n<p>Richard Baker | In Pictures | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>LONDON \u2014 Inflation in the U.K. dropped sharply to 1.7% in September, the Office for National Statistics said Wednesday.<\/p>\n<p>Economists polled by Reuters had expected the headline rate to come in at a higher 1.9% for the month, in the first dip of the print below the Bank of England&#8217;s 2% target since April 2021.<\/p>\n<p>Inflation has been hovering around that level for the last four months, and came in at 2.2% in August.<\/p>\n<p>Core inflation, which excludes energy, food, alcohol and tobacco, came in at 3.2% for the month, down from 3.6% in August and below the 3.4% forecast of a Reuters poll.<\/p>\n<p>Price rises in the services sector, the dominant portion of the U.K. economy, eased significantly to 4.9% last month from 5.6% in August, now hitting its lowest rate since May 2022.<\/p>\n<p>Core and services inflation are key watch points for Bank of England policymakers as they mull whether to cut interest rates again at their November meeting.<\/p>\n<\/div>\n<div class=\"group\">\n<div id=\"RegularArticle-DataWrapperChart\" class=\"DataWrapperChart-dataWrapperContainer\">\n<div class=\"flourish-embed flourish-chart\" data-src=\"https:\/\/www.cnbc.com\/2024\/10\/16\/visualisation\/19827587\"><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/19827587\/thumbnail\" width=\"100%\" alt=\"chart visualization\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Money market pricing for a 25-basis-point November rate cut jumped from 80% to 91% following the latest inflation print, with a follow-up trim in December nearly fully priced in. Analysts had on Tuesday said <a href=\"https:\/\/www.cnbc.com\/2024\/10\/15\/european-markets-live-updates-stocks-news-data-and-earnings.html\">lower wage growth<\/a> reported by the ONS this week supported the case for a rate cut.<\/p>\n<p>Two more quarter-percentage-point reductions this year would take the BOE&#8217;s key rate to 4.5%, after the central bank kicked off rate cuts in August, then held in September.<\/p>\n<p>A fall in the <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><a href=\"https:\/\/www.cnbc.com\/quotes\/GBP=\/\">British pound<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> following the publication on Wednesday reflected more dovish expectations for the BOE, with sterling down 0.6% against the U.S. dollar at $1.299, falling below the $1.3 level for the first time since Sept. 11. The British currency moved 0.5% lower against the euro.<\/p>\n<p>The yields on British government bonds, known as gilts, meanwhile dropped across the board. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\"><a href=\"https:\/\/www.cnbc.com\/quotes\/UK2Y-GB\/\">Two-year gilt yields<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> fell 9 basis points as the <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><a href=\"https:\/\/www.cnbc.com\/quotes\/UK10Y-GB\/\">10-year gilt yield<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> fell 7 basis points. <\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"256\" height=\"256\" viewbox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveaspectratio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"\/><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\" class=\"Collapsible-dismissButton\" alt=\"hide content\"\/><\/div>\n<\/div>\n<p><iframe title=\"British pound versus U.S. dollar.\" src=\"https:\/\/www.cnbc.com\/appchart?symbol=GBP%3D&amp;range=3M&amp;type=line&amp;embedded=true&amp;$DEVICE$=undefined\" height=\"460\" scrolling=\"no\" style=\"border:0;width:100%\"><\/iframe><\/p>\n<p>British pound versus U.S. dollar.<\/p>\n<\/div>\n<div class=\"group\">\n<p>&#8220;These figures provide reassurance that the U.K. has moved into a more moderate inflation environment, aided by lower fuel prices,&#8221; Suren Thiru, economics director at the Institute of Chartered Accountants in England and Wales, said in a note, with the &#8220;notable drop&#8221; in services inflation indicating &#8220;underlying price pressures are becoming less sticky.&#8221;<\/p>\n<p>Thiru nevertheless added that British inflation could reverse its decline in October because of an increase in the regulator-set energy price cap, while the BOE will wait to assess the U.K. Labour government&#8217;s <a href=\"https:\/\/www.cnbc.com\/2024\/09\/23\/uk-finance-minister-calls-for-discipline-on-spending-but-no-return-to-austerity.html\">keenly-awaited debut budget<\/a> at the end of the month for any potential inflationary impact before locking in a course.<\/p>\n<p>Capital Economics&#8217; Chief U.K. Economist Paul Dales was similarly cautious, pointing out that a large part of the unexpected weakness in core and services inflation was due to a big fall in airfares price rises. The BOE is slightly more likely to stick to 25-basis-point cuts at every other meeting as a result, Dales said, even if the chance of two more reductions this year has now gone up.<\/p>\n<p>&#8220;We still think rates will eventually fall to 3.00%, which is lower than the 3.50-3.75% priced into the market,&#8221; he said.<\/p>\n<p>However, Deutsche Bank&#8217;s Chief U.K. Economist Sanjay Raja said the inflation figures would be &#8220;music to the [Monetary Policy Committee&#8217;s] ears&#8221; and could lead them to consider a faster unwinding of restrictive policy, including sequential rate cuts.<\/p>\n<p>Raja also noted the risk presented by the budget, which he said was &#8220;likely to be expansionary despite the scale of fiscal consolidation coming on 30 October.&#8221;<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/10\/16\/uk-inflation-september-2024.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A wet Piccadilly Circus during a rainy morning in the West End, on 26th September 2024, in London, England.\u00a0 Richard Baker | In Pictures | Getty Images LONDON \u2014 Inflation &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=114823\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-114823","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/114823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=114823"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/114823\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=114823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=114823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=114823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}