UK Inflation Falls to 3.6% as Food Prices Jump and Markets Bet on December Rate Cut
UK inflation fell to 3.6% in October, the lowest since June, according to the Office for National Statistics. Food prices jumped 4.9% year-on-year, outpacing the overall slowdown. The Bank of England is now under pressure to consider a rate cut in December. Chancellor Rachel Reeves is set to unveil the budget on 26 November.