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Daily Mirror
Daily Mirror
Business
Levi Winchester

Inflation dips to 10.5% but remains close to 40-year high - what it means for your money

UK inflation dipped to 10.5% in the 12 months to December as fuel prices fell - but the cost of living is still rising at one of the highest rates in 40 years.

Consumer Prices Index (CPI) inflation was marginally down from 10.7% in the previous month of November - and has fallen further back from a 41-year high in October.

Crucially, this doesn't mean prices are no longer rising - they are still going up, but just that little bit less sharply.

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