Surprise as inflation falls to 2.2%

Press Association
Six-month inflation low expected
Six-month inflation low expected

Inflation has fallen to its lowest level in more than a year, official figures revealed as the Bank of England prepared to publish its latest quarterly outlook for the economy.

The sharper-than-expected drop in the Consumer Prices Index (CPI) rate from 2.7% in September to 2.2% in October was seen as easing pressure on the Bank to lift historically-low interest rates. Sterling fell on currency markets as a result.