P. M. BRIEFING : British Inflation Takes Slight Dip

LONDON — British inflation dipped slightly to 7.3% in October, but the fall was lower than expected and the underlying trend was still upward, the government said today.

Economists had forecast the yearly rate would fall to 6.9% from 7.6% in September as a rise in mortgage rates in October, 1988, dropped out of the reckoning.

But the Central Statistical Office said this was offset by increases in the cost of food, clothing and footwear.

The Treasury said the underlying rate of inflation, excluding home loan repayments from the index, showed a rise to 6.1% in October against 5.8% the previous month. That rise was the biggest in 6 1/2 years.