Article preview: Price inflation fell to a two-year low last month, with falling energy bills and fuel prices dragging the measure lower. It means the official Consumer Prices Index (CPI) measure of price inflation was 1.8% for the year to January, down from 2.1% in December. The fall in energy and fuel prices was partly offset in January by higher costs for air and ferry transport. It’s a bigger slowdown in average price inflation than predicted by economists, taking the CPI measure below the Bank of England’s 2% target.
Price inflation falls to two-year low
This 573 word blog post explains the latest official price inflation figures from the ONS, makes predictions for inflation remaining low for the rest of this year (based on NIESR research) and talks about the now growing gap between prices and pay. Includes a comment from Mike Hardie, ONS head of inflation. Written on 13th February 2019.
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