Sharp drop in UK inflation

The headline rate of retail price index inflation fell to 2.6% from 3.2% in September, the Office of National Statistics said.

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Labour: inflation rate still not tackling cost of living

Today's fall in inflation rate is "welcome", but is still not countering the rising cost of living, Labour's Shadow Economic Secretary to the Treasury has said.

Catherine McKinnell also said Labour wanted to introduce a lower 10p starting rate of tax. Credit: PA

Catherine McKinnell MP blamed David Cameron for prices still rising faster than wages, adding that "with inflation-busting hikes in energy prices in the pipeline families and pensioners will carry on feeling the squeeze."

She cited Labour's proposed energy bill freeze and childcare expansions as measures that David Cameron has opposed.

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