UK inflation rate dips by more than expected to 3.2%

Lower food prices in November helped the UK inflation rate ease to 3.2% from 3.6% last month, according to new official data.

Inflation – the rate at which prices rise – is now at its lowest level in eight months but remains above the Bank of England’s target of 2%.

The size of the fall in inflation was larger than expected, with analysts having predicted a drop to 3.5%.

Lower prices for food and drinks, tobacco and alcohol had contributed to the lower inflation figure.