Inflation falls to three-year low on back of high street discounting
by Richard Partington Economics correspondent from Economics | The Guardian on (#4XY8Y)
CPI at 1.3% in December, putting pressure on Bank of England to cut interest rates
UK inflation has dropped to its lowest level for more than three years, fuelled by struggling retailers offering a wider range of discounts in December.
Raising pressure on the Bank of England to cut interest rates, the annual rate on the consumer price index (CPI) dipped to 1.3% in December from 1.5% in November, the weakest since November 2016, according to the Office for National Statistics.
Related: MPC may need more data before it considers cutting interest rates
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