UK inflation falls to record low

UK - UK inflation fell more steeply than expected last month, paving the way for further interest rate cuts to stimulate the economy.

Figures from the Office for National Statistics showed that inflation excluding mortgage interest payments fell to 1.8% a year in November, down from an annual rate of 2.3% in October.

"We are looking over the next few months at a very weak world economy and very competitive conditions for prices," said Andrew Smith, economist at accountants KPMG.

"Certainly this

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