King sees sharper decline in inflation ahead for UK

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The first signs that inflation in the UK has reached its peak emerged on Tuesday after estimates showed CPI fell to 5% in October, raising concerns that inflation may now undershoot its target in 2012.

According to the Office of National Statistics (ONS), CPI inflation in the UK fell from 5.2% in September, to 5% in October, following a decline in the cost of food due to significant and widespread discounting by supermarkets and good harvests. However, the ONS said this was partially offset by

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