of october, bringing annualised inflation down sharply to 3.2% % over the past 12 months. it has been 3.7% previously and that was down from a peak of 9.1% in the middle of last year. let s hear now from our north america business correspondent erin delmore. it is finally heading in the right direction. . , , direction. that s right. and this re ort is direction. that s right. and this report is being direction. that s right. and this report is being seen direction. that s right. and this report is being seen as - direction. that s right. and this report is being seen as good i direction. that s right. and this - report is being seen as good news. we saw stock futures jumped on the news and we have seen that momentum sustained into this morning. when we look at numbers like this, we look not only at the number but the direction the numbers are moving in. as you said, we see inflation at 3.2% year over year in the month of october, down from 3.7% in september. we have