Inflation at record lows: Five views on its implications for the UK

UK CPI was 0.5% in the year to the end of December, down from 1% in November, materially below the 0.7% figure which had been expected by economists. The ONS cited afall in motor fuel prices,  following the global tumble in Brent crude prices as a major contributory factor. Surprise upward pressure from alcohol prices helping to prevent an even lower fall. With the majority of the oil price falls yet to feed through to headline prices - and CPI now at the equal lowest level since the measure came into use - just how far inflation will fall remains uncertain. So, too, does the impact o...