CPI inflation in the 12 months to October fell to 4.6%, a significant drop on the 6.7% rate in September.

The Consumer Prices Index rate of inflation held steady at 6.7% in September, disappointing some commentators.

The Consumer Prices Index, the key measure of UK inflation, showed a surprise fall in August to 6.7% from 6.8% in July.

The Bank of England is expected to raise interest rates tomorrow (Thursday) by 25 basis points in what could be the 15th rise in a row but it could also be the last rise for a while.