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By Sarah Taaffe-Maguire, Business reporter @taaffems
The rate of price rises significantly slowed again in November, official figures show.
Inflation stood at 3.9% last month, according to the Office for National Statistics (ONS), a dramatic fall from the 4.6% recorded a month earlier.
But the decrease is less steep than the drop from September when the consumer price index (CPI) measure of inflation tumbled from 6.7%.
It’s just under double the 2% target aimed for by policymakers at the Bank of England. Such highs are why the central bank said it is too early to talk about cutting interest rates which have made the cost of borrowing more expensive in an attempt to bring inflation down.
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