Inflation

Electricity prices down 5.3% in year to October as inflation softens

Consumer Price Index rose by 5.1 per cent in the 12 months to October, down from the 6.4 per cent increase recorded in September

Electricity prices dropped 1.8 per cent in October. Picture: Niall Carson/PA

Electricity prices fell 5.3 per cent in the year to October, as headline inflation slowed sharply last month.

The Consumer Price Index (CPI) rose by 5.1 per cent in the 12 months to October, down from the 6.4 per cent increase recorded the month prior, as falling energy prices anchored price growth.

Electricity prices dropped 1.8 per cent in October and by 5.3 per cent year on year, reflecting the steady decline in energy prices ...