| The global slump in the oil price over the past year has helped to alleviate concerns over the cost of living – and as wage rises pick up in the UK and US the windfall is giving a boost in real terms to average household incomes.
Direct derivative fuel products have fallen in cost, with petrol in the UK currently only a few pence above £1 a litre. Indirect savings in areas such as food, where lower transportation costs have contributed to persistent deflation, are also being made. These factors have been the primary cause of consumer prices in the UK being negative for the second month in a row for the first time ever in October.............................................Full Article: Source
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