UK Economics Correspondent, London
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Jan 15, 2015
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British inflation tumbles to lowest level in over 14 years

LONDON (Reuters) – British consumer price inflation plunged to its lowest level since May 2000 last month and looks set to fall further, easing a squeeze on consumers and leaving the Bank of England under no pressure to raise interest rates soon.

Reflecting a slide in global oil prices, the rate of consumer price inflation halved to an annual 0.5 percent in December from 1.0 percent in November, the Office for National Statistics said on Tuesday.

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