Pretty much anywhere you look, at least in the developed world, inflation is just not a thing despite the best efforts of central bankers.
In the UK — where a real recovery is actually taking hold — UK inflation just dipped hard.
- The Consumer Prices Index (CPI) grew by 2.2% in the year to October 2013, down from 2.7% in September.
- The largest contributions to the fall in the rate came from the transport (notably motor fuels) and education (tuition fees) sectors.
- The other main consumer price indices moved in a similar fashion. CPIH grew by 2.0% in the year to October 2013, down from 2.5%. RPIJ grew by 1.9%, down from 2.5%.
The pound is falling on the news.
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