The UK's main inflation rate has fallen to 2.2% in September from 2.5% in August, dropping to its lowest level for three years.
Official data from the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) inflation rate has fallen back towards the Bank of England's 2% target. Meanwhile, the Retail Prices Index (RPI) rate has fallen to 2.6%, down from 2.9% in August. Capital Economics predicted today's CPI reading could show inflation falling below its target for the first time since November 2009. However, rising petrol prices in September kept inflation above the 2% level. Having been as high as 5.2% last September, CPI inflation has been steadily declining over the past year. I...
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