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UK consumer inflation misses estimates in September

Annual consumer inflation in the U.K. stood at 1.7% in September, unchanged from the previous month and below the Bank of England's 2.0% target, data from the Office for National Statistics showed.

The consensus estimate of economists polled by Econoday was for annual inflation to rise to 1.8% in September.

The rise in the consumer prices index, including owner occupiers' housing costs, was led by furniture and household goods and restaurants and hotels.

Transport led negative contributions to the index in September. Housing and household services prices also negatively contributed to annual inflation in the month.

Meanwhile, annual producer price inflation dropped to 1.2% in September from 1.7% in August.

The consensus estimate of economists polled by Econoday was for 1.3% annual producer price inflation in September.

Month over month, producer prices fell by 0.1% during September after staying stable in August.