The ONS said Consumer Prices Index has fallen from 1.7% in September from 2.2% in August and a sharp slump in petrol prices and lower airfares drove inflation down.
Darren Jones, Chief Secretary to the Treasury, said, "It will be welcome news for millions of families that inflation is below 2%. However, there is still more to do to protect working people..."
Matt Swannell, chief economic adviser to the EY Item Club, said, "With the momentum behind pay growth also having eased slightly... this release removes another potential obstacle to the MPC voting for a 0.25 percentage point rate cut at its November meeting."
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