Britain’s consumer price index measure of inflation dropped to 4.6 per cent for the 12 months to October, its lowest level in almost two years, meaning the government’s pledge to halve it from 10.7 per cent in late 2022 has been achieved well ahead of schedule, largely thanks to falling energy prices.
However, it remains well above the Bank of England’s target of 2 per cent, keeping the cost of goods and services high and households under pressure as the Christmas season approaches.
