Rachel Reeves will take a close look at inflation data. Justin Tallis/PA Wire

Inflation hit 3.6 per cent in the year to October, it has been revealed, in the last set of prices data Chancellor Rachel Reeves will see before a crucial Budget focused on curbing the cost of living.

The Office for National Statistics (ONS) said inflation cooled slightly from last month’s figure of 3.8 per cent, but came in slightly higher than some economists had predicted.

Statisticians at the body also recorded services inflation to have lowered slightly to 4.5 per cent, a measure closely monitored by policymakers at the Bank of England.

Core inflation, which strips volatile items such as energy and food, rose by 3.4 per cent.

“Inflation eased in October, driven mainly by gas and electricity prices, wh

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