UK Inflation falls to 1.7%

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UK inflation has dropped to a three-year low of 1.7 percent in September. This unexpected fall has pushed inflation below the Bank of England's 2 percent target for the first time since April 2021. The main drivers? Lower airfares and petrol prices.

For Sir Keir Starmer's government, it's a welcome boost ahead of a challenging Budget. Chancellor Rachel Reeves faces the daunting task of closing a £40 billion funding gap.