UK inflation was unchanged at 6.7% in September, matching August’s reading, and dashing hopes of another fall.
Rising petrol prices prevented UK inflation falling from August’s 6.7%.
The Office for National Statistics says the largest downward contributions to the monthly change in inflation came from food and non-alcoholic beverages, where prices fell on the month for the first time since September 2021.
Furniture and household goods prices rose by less than a year ago.
However, rising prices for motor fuel made the largest upward contribution to the change in the annual rates.
On a monthly basis, consumer prices rose by 0.5% in September alone, today’s inflation report shows.
Meanwhile, China’s gross domestic product grew 4.9% year on year in the third quarter, beating market expectations.
Growth was boosted by a jump in retail sales growth, as Beijing steps up support for the world’s second-biggest economy.
Stephen Innes, a managing partner at SPI Asset Management, says: "China’s economic recovery showed mild momentum in the third quarter, posting a 1.3% growth from the previous three months.
"This growth suggests a modest improvement in the Chinese economy. However, there are ongoing calls for increased policy support to maintain consistent growth, as there are concerns about the sustainability of the recovery.
"Chinese authorities have implemented various measures to support economic growth, particularly in response to challenges from the property market and weak domestic demand. Focusing on policy support will likely continue as China seeks to stabilise its economy."
The agenda • 7am BST: UK inflation report for September • 9.30am BST: UK house price and rental costs indices for August • 10am BST: Eurozone inflation report for September (final estimate) • Noon BST: US weekly mortgage data • 1.30pm BST: US building permits and housing starts data
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