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November 18, 2020UK CONSUMER PRICE INDEX, OCTOBER 2020
The UK Office for National Statistics (ONS) reported that for October 2020, the UK Consumer Price Index including owner-occupiers' housing costs (CPIH) rose by 0.9% compared with October 2019, up from the 0.7% year-over-year increase recorded last month.
Rising prices for clothing, food, furniture, furnishings and carpets had the largest upward contributions to the change in the 12 month inflation rate between September and October. Falling prices for recreation and culture, and transport had a downward contribution to the inflation rate. Year-over-year growth in the Consumer Price Index excluding owner occupiers' housing costs (CPI) was 0.7%.
The UK inflation rate has declined in recent years, from a period in 2017 when it was over 2.5% to around 1.5% at the end of 2019. In 2020, inflation in the UK has fallen further, but to a lesser extent than the decline for inflation in Canada. In recent months inflation in the UK and Canada has similar trend.
Sources: United Kingdom Office for National Statistics Statistical bulletin, Annual growth - CPI, Annual growth - CPIH
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
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