The last time there was a larger fall in annual inflation was between November and December 2008, when the standard rate of VAT was reduced, and the rate fell from 4.1 per cent to 3.1 per cent. Annual inflation did fall by the same magnitude as this month (0.6 percentage points) more recently: between March and April 2009 the rate fell from 2.9 per cent to 2.3 per cent. The CPI stands at 121.7 in December 2011 based on 2005 = 100
The largest downward pressures to the change in CPI annual inflation between November and December came from petrol, gas and clothing
The only large upward pressure to the change in CPI annual inflation between November and December came from landline and mobile phone charges.