'Welcome news for consumers' as inflation drops to three-year low

1.5% in October

Anna Fedorova
clock • 2 min read

UK inflation fell to a three-year low in October as the cost of electricity, gas and other fuels were capped, the Office for National Statistics (ONS) has revealed.

UK CPI fell to 1.5% in October from 1.7% in September, below analysts' estimates of 1.6%, after the energy regulator Ofgem lowered its price caps last month, causing energy prices to slump. Gas and electricity prices fell by 8.7% and 2.2% respectively over the month of October, the ONS said, though the falls were partially offset by rising costs of clothing. At the same time, ONS data released yesterday (Tuesday 12 November) revealed average earnings, excluding bonuses, rose by 3.6%, slower than the 3.8% growth seeing during the previous month. UK economist at Deloitte Debapratim D...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Fahad Hassan: When good news becomes an inflation problem

Fahad Hassan: When good news becomes an inflation problem

'Markets have been adjusting to the risks through valuations all year'

Fahad Hassan
clock 29 September 2026 • 6 min read
Healey promises 'new age of industrialisation' ahead of Budget

Healey promises 'new age of industrialisation' ahead of Budget

Keeps quiet on personal taxation, pensions or savings at Labour’s conference

Isabel Baxter
clock 28 September 2026 • 2 min read
MPs warn policymakers to stop using OBR as scapegoat for tough fiscal decisions

MPs warn policymakers to stop using OBR as scapegoat for tough fiscal decisions

Treasury Committee report

clock 23 September 2026 • 2 min read