Inflation falls to lowest level in almost three years

Consumer price inflation fell to 2.2 per cent in September, the lowest level since November 2009.

Official figures from the Office for National Statistics said this morning that the rate of inflation fell from 2.5 per cent in August, largely due to the effects from September 2011’s utility bill rises dropping off.

The ONS said this morning that the rising price of petrol was still an upward pressure on the consumer prices measure of inflation.

The retail prices index measure of inflation, which includes mortgage payments, fell to 2.6 per cent in September, down from 2.9 per cent in August, with the change attributed to the last year’s household bill rises falling out of the calculation.