The figure declined for the first time in 4 years
In December 2013 the inflation in the UK declined. In annual terms the figure is 2%. For the first time in four years the value is corresponding to the target level of inflation, determined by the state. This is a very important event for the UK economy. Also, slowing the rise in prices shows the policies effectiveness of Chancellor of the Exchequer George Osborne, the London evening standard informs.
According to recent data, from November and December 2013 the cost of food and beverages grew in the slowest pace since 2006. Slowing inflation led to higher prices for alcohol and tobacco only by 1.2%, and clothing - by 0.9 %.
Prime Minister, David Cameron said: "The decline in inflation is good for the country. UK economy grows, jobs are created. Hardworking people can finally feel safe".
Despite the fact that today the salaries in the UK are growing slowly, experts are hoping that average salary will increase faster than the cost of living with the stabilization of the labor market.
