Global Inflation Trends Show Economic Relief

Inflation rates have experienced notable declines across several countries, providing economic relief and influencing monetary policy decisions. In the UK, inflation fell to 1.7% in September, marking the lowest level in three years and below the Bank of England's 2% target. Similarly, the US saw its inflation rate hitting a three-year low, with a 2.4% increase year-over-year, suggesting a more stable economy heading into the holiday season. Canada reported a significant drop in inflation to 1.6%, driven by lower gasoline prices, prompting the Bank of Canada to consider interest rate adjustments. New Zealand's inflation rate fell to 2.2%, aligning with the central bank's target band for the first time in over three years. Meanwhile, India anticipates a gradual alignment with its 4% inflation target, despite recent spikes due to external shocks.