This RPI announcement reveals the scale of the potential damage to our high streets that will follow if the Government follows previous practice and translates it directly into April's rate increase.
The retail industry is the UKs biggest private sector employer, providing crucial first jobs to a million 16-24 -year-olds. Expecting retailers to bear a huge rates hike for the third year running can only lead to fewer chances of work, less investment and more troubled high streets.
The Government must recognise that retail has already contributed its fair share to the Exchequer and freeze business rates in 2013. It also needs to reform the mechanism for setting future increases so that it is fairer and less volatile.
The fall in inflation should be good news, but rising energy prices combined with sluggish wage increases mean the impact may not be felt.
With energy bills about to rise again and food prices under pressure today's statistics could be the low point if inflation goes up again.