UK inflation dropped sharply to the lowest level in two years last month, as the Prime Minister said his pledge to halve inflation by the end of the year has been “delivered”.
Consumer Prices Index inflation was 4.6% in October, down from 6.7% in September, according to data from the Office for National Statistics (ONS).
The largest driver of the slowdown in inflation came from house prices, which saw the lowest CPI rate since records began in 1950.
Prime Minister Rishi Sunak said: “In January I made halving inflation this year my top priority. I did that because it is, without a doubt, the best way to ease the cost of living and give families financial security.
“Today, we have delivered on that pledge.”
Mr Sunak had pledged to halve inflation to about 5.3% by the end of the year.
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