British inflation cooled more than expected in October as household energy prices dropped from a year ago and there was also a wider softening of price pressures, offering relief to the Bank of England and Prime Minister Rishi Sunak. Annual consumer price inflation plunged to a lower-than-expected 4.6% from 6.7% in September, official data showed. The increase was the smallest in two years and prompted investors to increase their bets on BoE rate cuts next year.
British inflation cooled more than expected in October as household energy prices dropped from a year ago and there was also a wider softening of price pressures, offering relief to the Bank of England and Prime Minister Rishi Sunak . Annual consumer price inflation plunged to a lower-than-expected 4.6% from 6.7% in September, official data showed. The increase was the smallest in two years and prompted investors to increase their bets on BoE rate cuts next year.
"Now we are beginning to win the battle against inflation we can move to the next part of our economic plan, which is the long-term growth of the British economy," finance minister Jeremy Hunt said. The BoE's forecasts and the consensus from a Reuters poll of economists had pointed to an October reading of 4.8%. The ONS said the fall in the annual CPI rate was the biggest from one month to the next since April 199
British Inflation Rate Cuts Bank Of England Prime Minister Rishi Sunak Consumer Price Inflation Household Energy Prices
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