Food inflation, which had taken over from energy as the main driver of inflation in recent months, also slowed in October.
For example, officials look at core inflation, a measure that excludes food and energy prices, because they can be volatile and heavily influenced by international financial markets.
Policymakers also track wage growth, one of the stickier aspects of inflation.
Price growth in the services sector, which is heavily influenced by companies’ wage costs, slowed to 6.6 percent.
Controlling inflation is actually in the hands of Bank of England policymakers who are mandated to return inflation sustainably to 2 percent.
Rishi Sunak, Huw Pill, Pill
Bank of England
Ukraine, Britain, Bristol, British