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October 18, 2023UK CONSUMER PRICE INDEX, SEPTEMBER 2023 
UK Consumer Price Index including owner-occupiers' housing costs (CPIH) increased 6.3% year-over-year in September 2023, same as a year-over-year pace of 6.3% in August 2023, and down from the recent peak in October 2022 (9.6%, the highest in 40 years). CPIH was the lowest in September 2023 since March 2022.
Owner occupiers' housing costs component accounts for 16% of the CPIH. It is the main driver for differences between the CPIH and CPI inflation rates. This makes CPIH the UK’s most comprehensive measure of inflation.
Year-over-year growth in the UK Consumer Price Index (CPI) was 6.7% in September 2023, stable compared August 2023, and down from the most recent peak in CPI that occurred in October 2022 (11.1%).
The equivalence in rates in September 2023 and August 2023 came from downward contributions from food and non-alcoholic beverages and from furniture and household goods, that were offset by an upward contribution from transport and from restaurants and hotels.
Sources: United Kingdom Office for National Statistics Statistical bulletin
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
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