UK inflation falls to 4.8%

The UK consumer prices index has fallen to 4.8 per cent in November, according to the Office for National Statistics.

The consumer prices index is down 0.2 per cent from 5 per cent in October. The retail prices index fell to 5.2 per cent, from 5.4 per cent in October.

The ONS says the largest downward pressures to the change in CPI annual inflation between October and November came from food, petrol, clothing and furniture, household equipment & maintenance, it says the largest upward pressures came from domestic heating and off sales of alcohol.

In September, RPI hit its highest point since June 1991, when it was 5.8 per cent, CPI stood at 5.6 per cent in September.

The Bank of England’s target rate for CPI is 2 per cent.