By Jason Douglas

LONDON--Inflation in the U.K. slowed in October to its weakest rate in almost three years, aided by falling energy prices.

The slowdown was anticipated by the Bank of England, which last week signaled it expects to gently nudge up interest rates in the coming years if uncertainty over Brexit diminishes and global growth revives.

Consumer prices rose 1.5% on the year in October, the Office for National Statistics said Wednesday, compared with an increase of 1.7% in September. That was the slowest annual price-growth since November 2016, figures showed.

The slowdown was driven by regulated energy prices. The U.K.'s energy regulator on Oct. 1 lowered a cap on prices energy companies can charge to millions of households in response to lower wholesale prices for electricity and gas, as well as plentiful gas supplies following a warm summer.

The drag was partially offset by higher prices for clothing.

The BOE said last week that if Parliament approves Prime Minister Boris Johnson's Brexit deal after an election in December then it expects the economy to grow slowly but steadily over the next few years, fueling inflationary pressure.

Officials said they would expect to gently raise interest rates over that period to keep price-growth in check, assuming the global economy also picks up speed following a soft patch linked to tensions over trade between the U.S. and China.

Opinion polls currently give the ruling Conservatives a comfortable lead over the main opposition Labour Party ahead of a national ballot scheduled for Dec. 12. Mr. Johnson is hoping a healthy majority in the U.K. Parliament will allow him to end a persistent deadlock in the legislature over the terms of the U.K.'s withdrawal from the European Union.

Write to Jason Douglas at Jason.Douglas@wsj.com

(END) Dow Jones Newswires

November 13, 2019 05:01 ET (10:01 GMT)