Inflation has remained unchanged at 6.7% in the year to September, according to new figures published by the Office for National Statistics (ONS).

Latest data confirmed that rate of consumer prices index (CPI) inflation was the same rate as in August, ending three consecutive months of falls.

The ONS stated that the identical rate in August and September was a result of prices rising by 0.5% on the month, the same rate of change as last year.

Inflation remains down from a recent high peak of 11.1%, which was recorded in October last year.

The latest rate in September, excluding the same figure from the previous month, is the lowest since inflation figure since February 2022.

Core CPI – which excludes energy, food, alcohol and tobacco – increased by 6.1% in the 12 months to September, a figure slightly down from 6.2% in August, the ONS also revealed.

Deputy CEO of Mortgage Advice Bureau, Ben Thompson, said: “Inflation remains unchanged, adding more pressure on the Bank of England to hold interest rates where they are – at least for the next announcement.

“While rates remain high in comparison to recent history, the rates on offer from a host of big lenders have already reduced to sub-5%. However, as swap rates harden and the possibility of higher for longer interest rates sets in, it is unlikely that these rates will drop further anytime soon.”

In terms of the implications for the state pension triple lock, group communications director at Just Group, Stephen Lowe, added: “All eyes have been on today’s inflation figure to see if earnings or inflation will be the determining factor for uprating the state pension via the triple lock next year.

“The winner is earnings at 8.5% – the days feel long gone when the third element of the triple lock, a standard 2.5% rise, was a serious consideration.

“The Prime Minister must now weigh up his party’s manifesto commitments, the state of the nation’s finances and his chances of success in a coming General Election before making a decision which is expected to be announced in the Autumn Statement.”

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