Article preview: Price inflation in the UK has fallen to a three year low, with the energy price cap preventing inflationary rises for domestic energy prices in the past year. According to the latest figures from the Office for National Statistics (ONS), consumer prices rose by 1.5% in the year to October. Average price rises stood at 1.7% for the year, a month earlier. These slowing price inflation figures followed measures by energy regulator Ofgem last month to lower price caps for domestic energy. Economists had forecast inflation at 1.6%, but the Bank of England previously said that price inflation could fall to as low as 1.25% early in the New Year.
Three year low for price inflation
This 447-word blog post looks at the latest official price inflation figures and wage growth in the UK. Written on 14th November 2019.
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