Decline in annual rate in October eases fears that Bank of England will raise interest rates again this year
- Analysis: Sticky core inflation means UK interest rate cuts are not coming any time soon
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The UK’s annual inflation rate fell sharply to 4.6% in October on the back of cheaper gas and electricity in the biggest drop for more than three decades.
Marking the steepest single month decline in the consumer prices index (CPI) since 1992, the fall from 6.7% in September also beat the 4.8% figure predicted by a poll of economists for Reuters.
