UK inflation falls to lowest level in over 3 years, cementing expectations for another rate cut

UK inflation dropped to a three-year low in September, falling to 1.7% from 2.2% in August. This unexpected decline is likely to prompt the Bank of England to lower interest rates in November. Lower air fares and petrol prices contributed to the reduction. The new Labour government plans to address a budget shortfall, which could affect future economic policies.