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Inflation drops sharply as prices feel impact of lockdown
By Justin Cash 16
th December 2020 7:39 am
The inflation rate dropped from 0.7 per cent to 0.3 per cent last month, latest figures show.
The drop was much sharper than expected, and could reflect renewed lockdown measures across much of the UK in November as well as the impact of Black Friday sales lengthening this year as retailers tried to make up shortfalls in revenue.
According to the Office for National Statistics, clothing, footwear, food and non-alcoholic drinks reported the sharpest falls, which were offset by price rises in sectors such as games and toys.