13.11.201909:06:00UTC+00UK Consumer Price Inflation Slows More Than Expected

UK consumer price inflation eased more-than-expected in October, figures from the Office for National Statistics showed on Wednesday.

The consumer price index rose 1.5 percent year-on-year following a 1.7 percent increase in September. Economists had expected the inflation rate to drop to 1.6 percent.

In other data from ONS, output price inflation slowed to 0.8 percent from 1.2 percent in September. Economists had forecast a 0.9 percent increase in factory-gate prices.

Input prices decreased 5.1 percent year-on-year following a 3 percent slump in the previous month. The decline was largely driven by a fall in crude oil prices. Economists had expected input prices to drop 4.6 percent.

House price inflation was 1.3 percent in September, unchanged from August.