Deflation

The cost of living is now falling fast for some, according to one of the Government's two inflation measures released today.

The minimum wage will rise for most workers this October by 7p an hour to £5.80, it was announced today.

The UK economy is officially in a deflationary state for the first time in almost 50 years. That means the cost of living is falling.

Many council tax bills are set to rise in April despite some employees facing pay freezes or cuts.

The cost of living froze in February compared to the same period last year, as one of the key measures of inflation fell to zero for the first time in 49 years.