Inflation falls

Inflation has fallen for the first time in over a year. The Consumer Prices Index (CPI), which excludes housing costs and is the government's preferred measure, fell from 2.5% in September to 2.3% in October. Falls in banking charges, fuel prices and food prices all helped towards the fall. Inflation under the more widely recognised Retail Prices Index (RPI) fell for the third month in a row to stand at 2.5% in October.