UK inflation rate falls to 4.2% in December
- Published on Tuesday, 17 January 2012 09:53
- Posted by Scott Buckler
The rate of Consumer Prices Index (CPI) inflation in the UK fell to 4.2% in December, down from 4.8% the month before, according to the Office for National Statistics (ONS)
Retail Prices Index (RPI) inflation - which includes mortgage interest payments - fell to 4.8% from 5.2%.The drop in the CPI rate was the biggest monthly fall since April 2009, and the lowest rate since June 2011.
It was due to lower fuel prices and cheaper clothing, said the ONS.The figures showed a 2.8% drop in the price of clothing and footwear as retailers cut prices to attract customers in the run-up to Christmas.
However, food prices rose by 1.4%, despite recent fierce competition between the main supermarket chains.