In a financial year with little to be thankful for, some good news has crept in just before Christmas. The consumer prices index (CPI) stayed at 2.7% in November, according to the Office for National Statistics.
After a nasty rise in October, we should be glad that the CPI did not get any higher. There were fast price rises in the cost of many foods and soft drinks, as well as energy bills. But car fuel, beer, home maintenance and the cost of flying all fell last month.
Psychologically it’s good to close the year with the index below 3%. Let’s hope that there will be more encouraging figures in the New Year. Although inflation is expected to rise slightly, the hold in consumer prices bodes well for a positive 2013.
If the Christmas story teaches us anything, it’s that great change can come from the humblest beginnings.
