| UK inflation eases to 4.8pc as petrol and foods costs fall |
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The Office for National Statistics said the official measure of annual inflation - the Consumer Prices Index - fell to 4.8pc from 5pc in October, in line with expectations. "Today's data confirmed that inflation has passed its peak and is now on a downward track," said Victoria Cadman, economist at Investec. Falling transport and food costs, as well as retailer discounts for clothing, partially offset increases in the cost of domestic heating, alcohol and tobacco. |
