The Canary Wharf business district is seen in the distance behind autumnal leaves on October 09, 2024 in London, United Kingdom.
Dan Kitwood | Getty Images News | Getty Images
LONDON — Inflation in the U.K. dropped sharply to 1.7% in September, the Office for National Statistics said Wednesday.
Economists polled by Reuters had expected the headline rate to come in at a higher 1.9% for the month, in the first dip of the print below the Bank of England’s 2% target since April 2021.
Inflation has been hovering around that level for the last four months, and came in at 2.2% in August.
This is a breaking news story and will be updated shortly.