Steep fall in inflation

Jan 20 2009

Heavy discounting on the high street and the reduction in VAT caused the biggest fall in inflation last month since the recession of the early 1990s, official figures revealed.

The fall in the annual rate of UK inflation - as measured by the Consumer Prices Index (CPI) - fell to 3.1% from 4.1% in December, according to the Office for National Statistics (ONS).

The drop also marked the first time inflation fell in December since records began, said the ONS.

Site Tools