U.K. Inflation Rate Falls to Five-Year Low of 1.2%
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A surprise drop in U.K. inflation to the lowest level in five years may give Mark Carney scope to keep interest rates at a record low for longer.
The rate of consumer-price growth declined in September to 1.2 percent, the least since 2009, as falling oil prices and a stronger pound lowered the cost of imports. The report from the Office for National Statistics underscores the case for the Bank of England governor to maintain emergency policy settings as a deterioration in the euro-area economy threatens the U.K.’s expansion.