Labour Research February 2002

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Key economic indicators

Inflation falls to lowest for 32 years

Inflation continued to fall in December, this time to its lowest level since March 1960. The headline rate of 0.7% was 0.2 percentage points lower than November and reflects the cheaper cost of borrowing following a spate of base rate cuts in the last year. The underlying rate, which excludes mortgage interest payments, rose by 0.1 points to 1.9%.


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