Mubasher: The UK’s consumer price index (CPI), the headline gauge for the country’s inflation, remained unchanged month-on-month at 1.7% year-on-year in September, official data showed on Wednesday.

This was still the slowest pace for the gauge since December 2016, while it was led by declining prices of fuel, second-hand automobiles as well as electricity, gas and other energy costs.

Meanwhile, this was partially countered by rising prices offurniture, household appliances, hotel overnight stays, and from recreation and culture items.

In addition, the 12-month rate of the price index, covering the costs of owner occupiers’ housing, (CPIH), stood at 1.7% last September, from August, the Office for National Statistics (ONS) said.

By 8:36 am GMT, the GBP/USD pair dropped by 0.52% to $1.2721, while the EUR/GBP pair climbed by 0.45% to GBP 0.8673.