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Evening Standard
Evening Standard
Business
Henry Saker-Clark

Why has inflation fallen and what does it mean for me?

Inflation ING Bank of England Office for National Statistics Gareth Fuller James Smith Yael Selfin United Kingdom
Inflation slowed to 3% last month (Gareth Fuller/PA) -

Inflation dropped to a 10-month-low in January, driven by reductions in the cost of petrol, airfares and food.

The Office for National Statistics (ONS) reported an annual rate of Consumer Prices Index (CPI) inflation of 3% for the month, falling from 3.4% in December.

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