At a glance, last month’s sharp drop in the headline inflation figure to 1.7% tells the Bank of England all it needs to know when it considers whether to cut interest rates next month.
The plunge from 2.2% in August puts the rate of prices growth well below the central bank’s 2% target and back in territory that we last saw in early 2021 – long before the Russian invasion of Ukraine sent energy prices rocketing.
