Economy · Inflation & prices · 22 October 2026
CPI annual inflation rate rises to 3.5% in September
The House of Commons Library has published data showing the CPI annual inflation rate reached 3.5% in September, up from 3.1% in August. Petrol and diesel prices were the main drivers of this increase, while food price inflation remained stable at 1.3%.
House of Commons Library has reported that the CPI annual inflation rate was 3.5% in September, an increase from 3.1% in the previous month. The rise in goods prices contributed to this change, moving from 2.7% in August to 3.2% in September. Food price inflation stayed at 1.3% during the same period.
Petrol and diesel prices are identified as the primary factors behind the overall inflation increase. Core inflation, which excludes energy and food, stood at 2.8% in September 2026. Services inflation was recorded at 3.7% for September 2026, a figure that follows a high of 7.4% seen in the spring and summer of 2023.
The Monetary Policy Committee expects inflation to exceed 4% in the first quarter of 2027. This projection comes amid expectations that Middle East conflict and energy prices will raise UK inflation. The expected CPI annual inflation rate from April 2026 is 2%.
Historical context provided in the publication notes that core inflation peaked at 7.1% in May 2023. The UK inflation rate reached 11.1% in October 2022, marking a previous high point in the recent inflationary period.
Written by StreetOwl from House of Commons Library’s own announcement. It was drafted by StreetOwl’s own model, every figure and quotation was checked by code against the announcement, and it was read and approved by Michael Rossi before it went up. It says what was announced, not what anyone should do about it.
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