UK inflation falls to 2%; hits target for first time in four years

The Consumer Prices Index (CPI) dropped from 2.1% in November to meet the Bank of England's long-term target, the latest reading from the Office for National Statistics (ONS) revealed. The drop confounded most economists who had forecast it remaining at 2.1%. Meanwhile, the Retail Prices Index (RPI) rose to 2.7% from 2.6% in November. Falls in utilities and food prices over the last few months have helped bring inflation down, according to the ONS, with last month's fall again driven by these factors. UK CPI has dropped from 2.9% in the Summer. A spokesperson for the Treasury...