Inflation Falls but Cost-of-Living Gap Grows

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ONS prices data shows CPI (Consumer Price Index) inflation fell for the third consecutive month to 10.1 per cent in January, but the inflation rates experienced by rich and poor households grew to 2.9 percentage points. Services inflation – which is a better indicator of domestically generated inflation also fell in January (from 6.8 per cent to 6.0 per cent). However with transport and fuel costs falling, while energy and food price inflation remaining high, the cost-of-living gap between the richest and poorest households grew to 2.9 percentage points. Click here for more.