In the U.K., the Consumer prices index fell by 0.1% in September, the Office for National Statistics reports. That’s weaker than the zero reading that economists had expected.
Food and fuel have played a key role in dragging UK inflation down in the last year. Food prices fell by 2.5% and prices of motor fuels fell by 14.9% over the last year, according to the ONS.
A price cut by British Gas also helped trim the cost of living.
Prices for gas "fell by 2.1% between August and September this year, compared with no change between the same 2 months a year ago, with price reductions from a major supplier."
The British currency edged lower after the news with GBP/USD last seen at 1.5241, down 0.7%, and EUR/GBP last up 0.99%, at 0.7472.
