Inflation is nearly half of the 5.2% peak it reached last year. At the Autumn Statement, the Government took more action to help households with the cost of living including a further increase in the tax-free personal allowance and cancelling the fuel duty increase that was planned for January.
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It will be a cloudy and at times damp morning across much of the UK, apart from the far west where it will be dry and bright.
Barack Obama has returned to the political spotlight, campaigning for Democratic candidates ahead of upcoming elections.
The prime minister said there was a "clear and urgent imperative" to give new impetus to stalled negotiations.