UK inflation eases for first time in five months to 3.6% before crunch budget
Drop in October’s annual rate raises hopes of interest rate cut after Rachel Reeves’s tax and spending statement
UK inflation fell to 3.6% in October, easing the path for the Bank of England to cut interest rates after chancellor Rachel Reeves’s make-or-break budget next week.
The Office for National Statistics (ONS) said annual inflation as measured by the consumer prices index cooled for the first time in five months, declining from a peak of 3.8% over July, August and September.