Although inflation sank more than predicted to its lowest annual rate in five years, analysts informed that this most likely demonstrated the channel and price pressures would commence hiking again over the next few months.

Tuesday, the Office for National Statistics specified that inflation for CPI dropped to just 1.1 percent in September from 1.6 percent in August. This was slightly over half the 2 percent target.

The pound was suppressed by around half a cent due to the weaker than expected figures. A rate of 1.3% was predicted by major analysts. 

Amit Kara, economist at UBS said, "I think it's minded to expand the quantitative easing programme. This just provides the additional reason to do it."

The interest rates were slashed by the central bank to a record low of 0.5 percent and embarked on a 175 billion asset-buying programme with the aim of pumping money into the recession-hit economy. The other term for this multi billion asset-buying programme is quantitative easing. 

James Knightley, economist at ING said, "This is only a temporary move lower. Clothing prices and petrol prices jumped and we suspect that these components have further to rise."

Knightley informed further that on 1st January, a planned rise in value-added tax will take effect, which will push inflation higher early next year, as would rising oil prices and the weaker pound. 

Already, the petrol prices were leading to an upward impact on inflation in September, along with the prices of second-hand cars. 

As for November, analysts said that the Bank's new forecasts will be most important in deciding whether the central bank would require doing more to help the economy.