DEVELOPING: UK Inflation Rate Plunges to 3.6% Amid Economic Uptick

Breaking News: UK Inflation Rate Plunges to 3.6% Amid Economic Uptick The UK inflation rate has dropped to 3.6% in the year to October, marking the slowest pace of price rises in four months. According to the Office for National Statistics (ONS), the decline is attributed to smaller increases in household energy costs and lower hotel prices. The latest inflation report comes just a week ahead of the government's highly anticipated Budget, where Chancellor Rachel Reeves has vowed to do more to bring prices down. Reeves recognizes that inflation remains a significant burden for families across the country. Food prices, however, continue to rise, with a 12-month inflation rate of 4.9% in October, up from 4.5% in September. Bread, meat, and fish prices are among the main contributors to the upward pressure on food costs. The ONS data suggests that the UK economy is experiencing a modest uptick, with economists expecting further declines in inflation in the coming months. The government's Budget is expected to include a combination of tax rises and spending cuts to shore up the nation's finances. This is a developing story, and we will continue to provide updates as more information becomes available.