Falling fuel prices helped to lower the rate of inflation last month, according to latest figures.
The inflation rate dipped for the second month in a row in December, offering more evidence the peak of the cost of living crisis has passed. The fall to 10.5 per cent last month from 10.7% in November, shows further steady easing back from the painful 41-year high of 11.1 per cent recorded in October.
But households and businesses are still facing eye-watering prices across the board, as food price inflation hit yet another 45-year high at 16.8 per cent in December. The Office for National Statistics (ONS) said the decline in the Consumer Prices Index (CPI) was driven by falls in the price of petrol and diesel, as well as clothing and footwear as retailers discounted in December.
