The consumer prices index fell to 2.1 per cent in the year to December from 2.3 per cent in November. It is the lowest figure since January 2017, when inflation came in at 1.8 per cent. The fall in inflation combined with a period of sustained wage growth suggests that living standards are improving. Wages grew at their fastest pace in a decade in the three months to October and have been outstripping inflation since the beginning of last year. Economists said that the fall in inflation made an interest rate hike less urgent and that the Bank of England would likely wait…

Source: The Times January 16, 2019 12:00 UTC