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UK consumer price inflation cooled last month, to the tamest level since June, numbers on Wednesday showed. According to the Office for National Statistics, the pace of annual consumer price inflation abated to 3.6% in October, from 3.8% in September. The reading landed in line with consensus cited by FXStreet and backs the Bank of England’s notion that rate of inflation has peaked. The reading for October snaps a three-month streak of the rate coming in at 3.8%. In June, it was at 3.6%. In October 2024, the pace of yearly consumer price growth was 2.3%. On a monthly basis, consumer prices rose 0.4% in October of this year. In September, they had been flat from August. Annual service price inflation, a gauge closely-watched by policymakers, cooled to 4.5% last month from 4.7% in September. The reading could pave the way for the Bank of England to resume cutting rates. Threadneedle Street has maintained bank rate at 4.00% for the past two meetings. It had cut in February, May and August. The next BoE decision is on December 18, a day after another consumer price inflation reading. Producer price inflation, meanwhile, cooled in October. Producer input prices rose 0.5% on-year, easing from a 0.7% climb in September. On a monthly basis, they fell 0.3% in October, after a 0.1% decline in September from August. Sterling traded at $1.3135 after the data, falling from $1.3150 moments before the release. On Friday, the ONS releases retail sales data and a public sector borrowing reading, the latter in focus ahead of the government budget next week Wednesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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