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International Business Times
International Business Times
Business
Alexandra BACON

UK Inflation Hits Three-year Low, Fuelling Rate-cut Hopes

Inflation Bank of England United Kingdom Sir Keir Starmer Britain Interest Rates
UK inflation reached 1.7 percent in September (Credit: AFP)

Britain's annual inflation rate fell to a three-year low in September, official data showed Wednesday, fuelling speculation that the Bank of England will resume cutting interest rates next month.

The Consumer Prices Index (CPI) reached 1.7 percent last month, well below the BoE's two-percent target, after hitting 2.2 percent in August, the Office for National Statistics (ONS) said in a statement.

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