Interest rate cut on cards as inflation falls

UK inflation fell to a four-month low in October, paving the way for interest rates to be cut before Christmas despite concerns about rising food prices, experts say.

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Economists think the latest inflation reading will encourage the Bank of England to reduce borrowing costs at its next decision in December.

Consumer Prices Index (CPI) inflation fell to 3.6% in October, from 3.8% in September, the Office for National Statistics (ONS) said. This was the lowest level since June but above the 3.5% most economists were forecasting.