UK inflation has dropped to 4.6 percent, down from 6.7 percent in September.
This is the first time inflation has dropped below five percent in the last two years when figures for October were published this week.
Prime Minister Rishi Sunak Sunak pledged to halve inflation in 2023. It stood at just above 10 percent in January.
Analysts said a sharp fall in the annual inflation rate could see finance minister Jeremy Hunt cut taxes in his latest budget announcement due next week.
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