Inflation continues to fall

Inflation took a tumble in November on the back of cheaper oil and lower mortgage interest payments as the cut in interest rates kicked in. Under the Retail Prices Index (RPI) measure it was down to 3.0% from 4.2% in October.

The fall was smaller for the Consumer Prices Index (CPI), which excludes housing costs and is the government’s preferred measure. It was down to 4.1% from 4.5%.