Inflation remained at 3.8 per cent in the year to September for the third month in the row, according to figures released by the Office for National Statistics (ONS) on Wednesday.

The Consumer Prices Index (CPI) measure of inflation released today is still well above the Bank of England’s 2 per cent target.

The figure is lower than what economists had predicted, many of which who thought it would stay high as a result of the higher price of clothing, fuel and airfare costs.

What will happen to inflation in the future

Inflation is widely expected to stay high this year, but some think it will have peaked in September.

Capital Economics noted that the 2 per cent month-on-month drop in Ofgem’s utility price cap on 1 October, combined with what could be a 3.4 per cent fall in fuel pri

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