UK inflation hits three-year low; London house prices fall again – business live

Consumer prices index inflation falls to 1.5%, in a boost to households, thanks to lower energy bills

Earlier:

10.57am GMT

Here’s our news story on the drop in UK inflation:

Related: UK inflation falls to three-year low of 1.5% as energy prices decline

10.43am GMT

Lower inflation means we should be feeling less miserable, reports Scott Corfe of the Social Market Foundation:

Stronger-than-expected fall in headline UK inflation in October – 1.5% on the CPIH measure, down from 1.7% in September. Combined with low unemployment, the economic “Misery Index” looks set to remain very low/continue falling back in the run-up to the December general election: pic.twitter.com/skkSKdNunP

A key driver of lower UK consumer price inflation in October was energy prices. Gas prices were 8.7% lower than a year ago. pic.twitter.com/pDS9zNaMGX

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