UK’s consumer price inflation recorded at 2.2 percent in September

UK’s consumer price inflation recorded at 2.2 percent in SeptemberAccording to the latest figures released by the government, UK's consumer price inflation was recorded at 2.2 percent during the month of September.

The Office for National Statistics showed the inflation in September was the lowest since November 2009. The consumer price inflation was recorded at 2.5 percent in August 2012. Analysts believe that the inflation remains moderate because gas and electricity prices had been increased sharply during the previous year. The consumer price inflation for September remained flatter because electricity prices had driven the inflation to a high of 5.2 percent in September 2011.

The Bank of England and the government have been hoping for the inflation to fall so as to leave the people with more money to spend and support the economic growth. , the family income level in the UK has increased at its slowest pace since December 2010 and people faced increasing difficulties due to an increase in spending. The family income increased by 1.7 per cent while costs increased at a much faster rate.

The electricity bills are now 8 percent higher than the previous year while the spending on essential items grew at 3.3 per cent compared to the year earlier, according to Lloyds TSB spending report for September. The government is concerned that inflation index might increase because four of UK's largest energy suppliers are expected to increase power costs by about 6 to 9 percent.