UK inflation finally dips—what's behind the change?
After five months of stubbornly high prices, UK inflation is set to drop to 3.6% in October, down from 3.8% last month.
Slower rises in food and energy costs are the main reason—energy bills rose less this year than last year.
The official numbers land November 19, just ahead of the government's big autumn budget update.
What else should you know?
Core inflation (which leaves out food and energy) is also expected to nudge down a bit, though the cooling job market and steady expectations for future price rises are cited for overall inflation.
But here's the catch: even with this progress, the UK is still on track for the highest inflation among G7 countries through next year, according to the IMF.
Prices have been above target for over a year now—so while things are easing up, there's still work ahead.