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"With the economic slowdown, the pressure on inflation should be downwards"
- Amit Kara, an economist at UBS AG
U.K. inflation eased more than expected in October amid faltering global economic growth, leaving the door open for more stimulus. Consumer price index rose 5%, said the Office for National Statistics on Tuesday.
"The easing in the rate of inflation marks the start of what is likely to be a downward tend, with a further marked easing in the rate likely in coming months. The rate could well fall back to target [2%] in the next 12 months," said Chris Williamson, chief economist at Markit.
"With the economic slowdown, the pressure on inflation should be downwards," said Amit Kara, an economist at UBS AG in London and a former Bank of England official. "They [Monetary Policy Committee] will leave the door open for more QE for sure."