New figures released by the Office for National Statistics make happy reading for Reeves ahead of the budget. CPI inflation has fallen below the Bank of England’s target to 1.7% in September after sitting at 2.2% in the last two months. Lower than economists prediction of 1.9%. If Sunak had gone for a later election the Tories would have been able to claim credit…

That’s the lowest figure since April 2021. Chief Secretary to the Treasury Darren Jones says it’s “welcome news“. The ONS says drops in air fares and motor fuels provided a strong downward push. Core inflation, meanwhile, was 3.2%, lower than than the expected 3.4%. Further rate cuts at next month’s Monetary Policy Comittee meeting now appear certain…