Inflation reached 3.6 per cent in the year to October, new figures have shown, in the final update Chancellor Rachel Reeves will receive before a critical Budget centred on tackling the cost of living.

The Office for National Statistics (ONS) reported that inflation declined marginally from last month's reading of 3.8 per cent, though the figure still exceeded some economists' forecasts.

Statisticians at the organisation also noted that services inflation dropped slightly to 4.5 per cent, a metric closely watched by Bank of England policymakers.

Core inflation, which excludes volatile components such as energy and food, increased by 3.4 per cent, as reported by City AM .

"Inflation eased in October, driven mainly by gas and electricity prices, which increased less than this time la

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