Inflation at Five-Year Low As King Says Recession Is Not Over

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LOW fuel and food prices triggered a fall in inflation to its lowest level for five years at 1.6 per cent, official figures showed yesterday, as the governor of the Bank of England said there were signs the economy had returned to growth.

The Consumer Price Index fell from 1.8 per cent to 1.6 per cent over the month, because of a fall in the cost of cereal, bread and soft drinks. But mortgage and housing costs increased slightly, leading to a higher retail price of -1.3 per cent, up from -1.4 per cent.

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Inflation at Five-Year Low As King Says Recession Is Not Over

As the official figures were published, Bank of England governor Mervyn...

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