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Lower clothing and food prices help inflation fall by more than expected
The UK’s inflation rate has fallen to 3.2% for the period covering the 12 months to November.
The size of the drop, announced by the Office for National Statistics this morning, was larger than expected and has been welcomed by both the chancellor and the prime minister.
“Good news: inflation has fallen to the lowest in 8 months,” Keir Starmer wrote on X – with the drop cementing a downward trend away from a peak that had been seen earlier this year.Even though the inflation rate has eased, it doesn’t mean overall prices are reducing – just that thay are rising less quickly.
It was recent falls in food, alcohol, and clothing prices that drove the decrease.
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