Inflation rate down to 3.9%

UK inflation rate falls to 3.9% in the year to November, providing some good news going into the festive break.

In some welcome good news going into Christmas and the New Year, the Office for National Statistics has reported that the UK inflation rate has fallen to 3.9% in the year to November.

The rate is lower than had been expected, which means that inflation is now at its lowest level for over two years. Contributing to the fall were lower petrol and diesel prices and slowing price rises for food, including pasta, milk and butter.

Although this is good news, it must be remembered that price increases are only slowing down and although the Government has announced that the UK is "back on the path to healthy, sustainable growth", there is still some way to go to meet Rishi Sunak's promise of reducing inflation to 2%.

Nonetheless, this is welcome news for Landlords and Tenants alike as a continuing fall in inflation can only make interest rate cuts more likely in the medium term, overall lower costs means people have more money left in their pockets at the end of the month, and it can only boost confidence in the housing market.

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