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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

UK inflation expected to slow sharply, easing interest rate pressure

Inflation United Kingdom Bank of England Interest Rates
An energy bill email on a phone screen next to some cash
A 23% cut in the UK energy price cap since October 2022 is expected to help slow the rate of price rises. Photograph: Jacob King/PA

The annual pace of price rises is expected to have slowed sharply when the latest official figure for October is released on Wednesday, easing fears that the Bank of England could increase interest rates next month.

City economists polled by Reuters have signalled that inflation as measured by the consumer prices index (CPI) will fall almost two percentage points to 4.8% from September’s 6.7% reading.

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