World Economic outlook - UK. cpi inflation rate january 2012 : Consumer Prices Index (CPI) inflation in the UK fell to 4.2% in December, down from 4.8% in November, according to the Office for National Statistics (ONS).
Retail Prices Index (RPI) inflation - including mortgage interest payments - fell to 4.8% from 5.2%. It backs Bank of England predictions that inflation will be 2% by late 2012.
The drop in the CPI rate was the biggest monthly fall since April 2009, and the lowest rate since June 2011.
The figures reflected a 2.8% drop in the price of clothing and footwear as retailers cut prices to attract customers in the run-up to Christmas.
Fuel prices fell 0.6% on the month, although this month's gas and electricity cuts by the main suppliers have yet to take effect.
However, food prices rose by 1.4%, despite recent fierce competition between the main supermarket chains.
Other results:
- Between December and January the output index for home sales of manufactured products rose 0.5 per cent.
- In the year to January 2012 the output price index excluding food, beverages, tobacco & petroleum rose 2.4 per cent. This is the lowest annual rate since February 2010, when the index rose 2.2 per cent.
- In the year to January 2012 the total input price index rose 7.0 per cent, compared with a rise of 8.9 per cent last month. This is the lowest annual rate since November 2009, when the index rose 3.9 per cent.
- Between December and January the total input price index rose 0.5 per cent.
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