Annual inflation in UK at 3.6% in October, higher than forecasts

The UK's annual inflation rate slowed to 3.6% in October, easing from 3.8% in September but coming in slightly above market expectations of 3.5%, official data showed Wednesday.

According to the Office for National Statistics (ONS), the strongest annual price increases were recorded in education at 7.6% and in alcohol and tobacco at 5.9%.

Housing and household services made the largest downward contribution to the headline figure, rising 5.9% year-on-year in October compared to 7.3% the previous month.

Furniture and household goods, along with clothing and footwear, posted the smallest annual increases at 0.3% each.

On a monthly basis, consumer inflation came in at 0.4% in October, easing from 0.6% in September. Education recorded the strongest monthly rise at 3.6%, while prices in health and communication fell 0.2%.