UK inflation slows sharply to 4.6%

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UK inflation slowed sharply to an annual rate of 4.6 per cent in October, driven by a fall in the energy price cap, meaning prime minister Rishi Sunak has met his pledge to halve inflation by year end.

The Bank of England had expected headline inflation to fall sharply from 6.7 per cent in September to below 5 per cent in October; economists polled by Reuters took a similar view, forecasting that consumer price growth would hit 4.8 per cent in October.

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