British inflation unexpectedly held steady in October, according to data today that raises the prospect that the rate could return to target faster than the Bank of England expects.
UK consumer prices rose at an annual pace of 2.4% in October, the joint-lowest inflation rate since March 2017, the Office for National Statistics (ONS) said.
A Reuters poll of economists had pointed to a reading of 2.5%.
Food and clothing prices pushed down on UK inflation last month, offsetting a rise in utility bills and petrol prices, the ONS said.
Slowing inflation would boost the spending power of UK consumers, whose wages, excluding bonuses, rose at the fastest pace since 2008 in nominal terms during the three months to September.
That backed up the Bank of England's view that a long period of weak pay increases is ending, and that it will need to raise interest rates in response to keep inflation at its 2% target in the coming years.
But analysts said today's figures added to signs that inflation may turn out weaker than the central bank expects.
The Bank of England expects inflation to drift down but that the rate will remain just above 2% in two years' time as it gradually raises borrowing costs.
The bank's forecasts are based on the assumption of a smooth transition after Britain leaves the European Union in March 2019.
This is something that may hinge on deliberations about a draft divorce deal with Brussels among Prime Minister Theresa May's cabinet today.
UK consumer price inflation hit a five-year high of 3.1% in November 2017, when the inflationary effect of the pound's tumble after the Brexit vote in June 2016 reached its peak.
Today's figures also show that core inflation - a gauge of underlying price growth that strips out energy, food, alcohol and tobacco prices - also held steady at 1.9% in October.
The ONS figures suggested there may still be some short-term pressure in the pipeline for consumer prices.
Among manufacturers, the cost of raw materials - many of them imported - was 10% higher than in October 2017. Economists polled by Reuters had expected a 9.6% rise.
UK manufacturers increased the prices they charged by 3.3% year-on-year compared with 3.1% in September, marking a four-month high and outstripping all forecasts in the Reuters poll.
