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The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. today. The U.K. consumer price index declined to 1.2% in September from 1.5% in August, missing forecasts of a fall to 1.4%. That was the lowest level since September 2009.
The drop was driven by lower energy and food prices. Fuel prices decreased 6% in September, while food prices fell 1.5%.
The Retail Prices Index declined to 2.3% in September from 2.4% in August.
The Bank of England's target is about 2%.
The consumer price inflation data could mean that the Bank of England will delay its interest rate hike.
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