Inflation fell to its lowest level in more than five years in May after a sharp drop in air fares and retailers discounted food and clothing prices.
UK inflation fell to its lowest level in more than four years last month, easing the burden on households after years of squeezed incomes.
Compare and contrast. In the euro area, falling energy prices are cited as one of the reasons why the annual inflation rate has dropped to a four-year low of 0.7%.
The best part of Ed Miliband's new energy policy is the plan to abolish Ofgem.
Inflation eased down to 2.7% in August thanks to smaller price rises for petrol and new autumn fashion ranges but the cost of living continued to outstrip pay rises.
Inflation fell in July but remains well in excess of pay rises for the average British worker, leaving many households struggling with falling incomes.
The incoming governor of the Bank of England has warned Europe it must make "sustained and significant reforms" if it is to avoid a Japanese-style lost decade caused by austerity measures.
The City watchdog, the Financial Services Authority, is investigating claims by a whistleblower that Britain's £300bn wholesale gas market has been "regularly" manipulated by some of the big power companies, exploiting weaknesses that echo the recent Libor scandal.
UK inflation fell to its lowest in almost three years in September, easing the pressure on cash-strapped consumers. But there was a sting in the tail for people on benefits, as last month's inflation numbers will be used to set payouts.