Summary
The UK's inflation rate decreased to 3.6% in the year leading up to October. This marks the lowest rate in four months, influenced by smaller increases in gas and electricity prices compared to the previous year.
Key Facts
- UK's inflation rate was 3.6% in October.
- This is the lowest rate in four months.
- Gas and electricity prices did not rise as much as they did last year.
- Hotel costs also contributed to the lower inflation rate.
- Food prices increased after they had dropped in September.
- Inflation was at 3.6% in June before it rose to 3.8% and then fell back down in October.
- Lower inflation may lead to reduced interest rates in the future.
