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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

UK inflation drops sharply to 4.6% as energy prices fall

Inflation United Kingdom Interest Rates
Closeup of woman holding smart energy meter in kitchen measuring energy efficiency
The 23% year-on-year cut in the energy price cap for the typical annual bill was at the heart of the drop in inflation. Photograph: monkeybusinessimages/Getty Images/iStockphoto

The UK’s annual inflation rate fell sharply to 4.6% in October on the back of cheaper gas and electricity, its lowest level for two years.

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.

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