Inflation falls to four-year low

The rate of Consumer Price Index inflation has fallen to a four-year low of 1.7% last month. The main factor in the decline was fuel prices. The rate of Retail Price Index inflation dropped to 2.7%.

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Labour: Workers are still £1.6k a year worse off

Responding to today’s inflation figures, Labour welcomed the rise but said that prices are still rising faster than wages.

This fall in the inflation rate is welcome, but the squeeze continues as prices are still rising faster than wages.

Working people facing this cost-of-living crisis are on average £1,600 a year worse off since David Cameron came to office.

– Catherine McKinnell, Labour’s Shadow Treasury Minister

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