While the official rate of inflation is now 2.2pc on the Government's preferred measure, the CPI, and minus 1.1pc on its old scale, the RPI, it has fallen deeply into negative territory on the most recent Real Cost of Living Index (RCLI), which stands at minus 10.3pc. The dramatic fall in the cost of a typical family's weekly essentials has been driven by sharp declines in mortgage costs since last year, while petrol and diesel are also much cheaper than a year ago.
The dramatic fall in the cost of a typical family's weekly essentials has been driven by sharp declines in mortgage costs since last year, while petrol and diesel are also much cheaper than a year ago.
