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UK Consumer Prices (Oct. 2023)

The fall in CPI inflation from 6.7% in September to 4.6% in October is a bit bigger than expected, brings inflation a bit closer to the rates in the US and the euro-zone, all-but confirms the Prime Minister can say that inflation has halved this year, cements yesterday’s big fall in gilt yields and will fuel expectations in some parts that the Bank of England will be cutting interest rates by the middle of next year.

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