There's been a surprisingly sharp drop in inflation this morning.
Prices rose by 2.2 per cent in October, down from 2.7 per cent the month before and well below economists' expectations.
The main reasons were a sharp fall in transport costs, mainly motor fuels (for example a drop of 4.9p in petrol in October), and tuition fees.
The latter of these is a mathematical quirk: education costs rose 8 per cent but this was half the rate they were rising a year ago so the comparison contributes to a lower overall inflation figure.
Prices have been rising ahead of wages for years now. It's likely that that trend will be reversed some time next year but today's easing of inflation may bring the end of the squeeze on incomes a little closer.
Scottish Lib Dem MP Jo Swinson has responded to an apology made by the Deputy Prime Minister over pledges to scrap tuition fees. Ms Swinson said the party's mistake had been to make a pledge they could only keep if governing alone. She told Sky News:
"The problem with this particular pledge, and what made it different, was it committed us to vote in a particular way regardless of what happened with the election result. That's what we should not have done."
Sheffield Children's NHS Foundation Trust has responded to the Deputy Prime Minister's pledge to donate all proceedings from a spoof single to be released to their charity. Nick Clegg gave permission for a satirical site to release a remix of the apology as a single.
Liberal Democrat MP Greg Mulholland has welcomed an apology from his party leader over his pledge to reduce tuition fees. Mr Mulholland was one of 21 Liberal Democrat MPs who defied party whips to vote against the rise in tuition fees in the Commons. He said:
I welcome Nick's apology for what was a mistake. This took courage and I hope people give him credit for saying that publicly.
Let's be clear that what we now have is basically a capped graduate tax, which is fairer and more progressive than Labour's upfront fees.
The real tragedy was failing to implement this properly, with no fees, which would have meant no breaking of the NUS pledge.