British inflation falls less than expected in October

Official data showed on Wednesday that annual consumer price inflation in Britain fell to a lower than expected level of 4.6% in October after reaching 6.7% in September.

According to Reuters, the increase in consumer prices was the lowest since October 2021

The expectations of the Bank of England (Central) and the opinions of economists in a poll conducted by Reuters indicated an inflation rate of 4.8%.

Core inflation, which excludes energy and food prices, fell to 5.7% from 6.1%, while inflation in the services sector also fell by more than the central bank’s expectations to 6.6% from 6.9%.

These data represent positive news for Prime Minister Rishi Sunak, who promised to halve price increases this year before elections expected in 2024, which opinion polls indicate that the Conservative Party he heads is likely to lose.

Despite the significant decline in inflation last month, Britain is witnessing the highest rate of consumer price growth among the Group of Seven countries, slightly higher than the rate in France of 4.5%.