Inflation fell to 1.7% in September, below expectations of 1.9% and the lowest level in three years.
Measured by the Consumer Prices Index (CPI), the figure recedes from 2.2% reported last month and dips below the Bank of England’s target.
The largest downward contribution came from transport, with larger negative contributions from air fares and motor fuels; the largest offsetting upward contribution came from food and non-alcoholic beverages.
Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, rose by 3.2% in the 12 months to September 2024, down from 3.6% in August.
