Consumer prices index inflation falls to 1.5%, in a boost to households, thanks to lower energy bills
Earlier:
- Introduction: Trump dampens hopes of trade breakthrough
- President’s threat of more tariffs worries investors
9.47am GMT
Back in August, Ofgem ruled that the average annual energy bill for 11m homes will fall from £1,254 to £1,179, from the start of October.
It also pushed down the bills for households on pre-paid meters (but only by £25).
Related: Winter electricity and gas bills fall as Ofgem lowers price cap
9.39am GMT
Some instant reaction:
Commenting on today’s inflation figures, an ONS spokesperson said: https://t.co/CsvyYSJ2nc pic.twitter.com/gSnqfcXQYC
Inflation down to lowest level in nearly three years, both CPI and CPIH at 1.5%. ONS cites impact of Ofgem energy price cap pic.twitter.com/uL93EDWEHp
UK CPI inflation down from 1.7%y/y in Sep to 1.5%y/y in Oct. Core inflation held steady at 1.7%y/y. Gas, electric & other fuels were the main downward push (result of Ofgem’s energy price cap). Clothing & footwear the main upward push on inflation. RPI: 2.1%y/y CPIH: 1.5%y/y. pic.twitter.com/g10PSXLCXJ
Continue reading…Consumer prices index inflation falls to 1.5%, in a boost to households, thanks to lower energy billsLatest: CPI falls sharply as energy cap kicks inEarlier:Introduction: Trump dampens hopes of trade breakthroughPresident’s threat of more tariffs worries investors 9.47am GMTBack in August, Ofgem ruled that the average annual energy bill for 11m homes will fall from £1,254 to £1,179, from the start of October.It also pushed down the bills for households on pre-paid meters (but only by £25). Related: Winter electricity and gas bills fall as Ofgem lowers price cap 9.39am GMTSome instant reaction:Commenting on today’s inflation figures, an ONS spokesperson said: https://t.co/CsvyYSJ2nc pic.twitter.com/gSnqfcXQYCInflation down to lowest level in nearly three years, both CPI and CPIH at 1.5%. ONS cites impact of Ofgem energy price cap pic.twitter.com/uL93EDWEHpUK CPI inflation down from 1.7%y/y in Sep to 1.5%y/y in Oct. Core inflation held steady at 1.7%y/y. Gas, electric & other fuels were the main downward push (result of Ofgem’s energy price cap). Clothing & footwear the main upward push on inflation. RPI: 2.1%y/y CPIH: 1.5%y/y. pic.twitter.com/g10PSXLCXJ Continue reading…