UK inflation hits three-year low, fuelling rate-cut hopes

UK inflation hits three-year low, fuelling rate-cut hopes …C0NTINUE READING HERE >>>

UK inflation reached 1.7 percent in September.
Photo: HENRY NICHOLLS / AFP/File
Source: AFP

Britain’s annual inflation rate fell to a three-year low in September, official data showed Wednesday, fuelling speculation that the Bank of England will resume cutting interest rates next month.

The Consumer Prices Index (CPI) reached 1.7 percent last month, well below the BoE’s two-percent target, after hitting 2.2 percent in August, the Office for National Statistics (ONS) said in a statement.

The inflation rate was lower than the 1.9 percent rise that analysts forecast and has cemented…

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