Market update – September 2018

The FTSE 100 was relatively benign in September, ending the month at 7,510.20, which was 1.0% higher than the August closing figure of 7,432.42. In the US, the Dow Jones Industrial Average’s performance was up 1.9%, closing September at 26,458.31. In terms of £ Sterling, it ended September at 1.30 US Dollars.  This was 0.6% higher than the closing figure at the end of August. Against the Euro, it was a similar story with £ Sterling ending September at 1.12 Euros, which was 0.6% higher than the August closing figure. Inflation, as measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH), was 2.4% in August 2018 (this is August’s data which is reported in September).  This was up from 2.3% the previous month.  The 12-month rate for the Consumer Prices Index (CPI) rate which excludes owner occupied housing costs and council tax was 2.7% in August 2018, up from 2.5% in July 2018. The Bank of England maintained interest rates at 0.75% in September following the increase in August.