BIGGEST EVER FALL IN COST OF LIVING; CREDIT CRUNCH CRISIS.Byline: By RUKI SAYID, Consumer Editor CASH-strapped families will have more money to spend this Christmas - after the biggest ever drop in the cost of living. And experts reckon this will pave the way for a cut in interest rates before Christmas. Inflation fell by a record 0.7 per cent last month, official figures show. The Consumer Price Index plunged from a 16-year peak of 5.2 per cent in September to 4.5 per cent in October. Cheaper petrol (the largest drop for 11 years) and a supermarket price war helped push costs down as bargain meat and soft drinks lopped money off grocery bills. Howard Archer, chief UK economist at IHS IHS (I.H.S.) first three letters of Greek spelling of Jesus; also taken as acronym of Iesus Hominum Salvator ‘Jesus, Savior of Mankind.’ [Christian Symbolism: Brewer Dictionary, 480] See : Christ IHS Global Insight, said: "This reinforces the belief the Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. will cut interest rates sharply as it tries to limit the length and depth of the recession." Despite the record monthly fall in the cost of living, the CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch. (2) (Counts Per I is still more than double the Bank of England's two per cent target. |
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