0:00
Inflation has fallen to 3.4%, which is its lowest level in nearly two and a half years
0:04
Still means that prices are rising, but it just means they're rising less quickly than they have been over the past two years or so
0:12
The main contributor to the fall this month was much slower food inflation, and also prices in restaurants and cafes, hotels, stuff like that
0:21
So it's clear that inflation is falling now quite quickly. And does this mean the Bank of England will cut interest rates
0:30
So it's unlikely the bank is meeting tomorrow and will announce its latest interest rate decision then
0:37
Most economists are pretty certain that interest rates will be left on hold tomorrow
0:42
The bank is waiting for further progress both on inflation and on wages
0:47
They're quite concerned that wage growth is high and that could give people more spending power and put up prices again
