After three months on a high plateau, inflation is beginning to ease again. The drop from 3.8% to 3.6% in the October consumer prices index sets the UK on a downward path that reduces the pressure on shoppers, businesses and the government.

Never mind that City economists had expected a fall last month. It appears to be a turning point back towards normality after a topsy-turvy year that everyone wants to put behind them.

A little more than 12 months ago the pace of prices growth fell as low as 1.7% and it looked like inflation was beaten, but then came a resurgence in gas and electricity bills and most shockingly for the general public, a return of rocketing food prices. UK inflation eases for first time in five months to 3.6% before crunch budget Read more

There were global ef

See Full Page