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Inflation falls to lowest level in nearly two years

The UK inflation rate fell to 2.1% in December, from 2.3% the previous month, according to the Office for National Statistics (ONS).

The Consumer Prices Index (CPI) figure was the lowest in nearly two years, pushed down by petrol price falls.

The inflation reading was in line with analysts’ expectations.

The figure is close to the Bank of England’s target of 2% and may mean the Bank is less likely now to consider any rate rises in the near future.

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