Nearly three quarters of the downward deviation from the official inflation target of 2% comes from external sources such as cheaper energy and imports. This has been partly due to stronger sterling and depreciating emerging market currencies. Global oil prices continued to fall significantly over the year to September, with Brent crude falling as much as 45% when compared with the same month a year ago. Petrol prices also continued to decline in September, and were some 14% lower when compared with the same month a year ago, according to the UK's AA Fuel Report. The British Retail Consortium (BRC) reported earlier ... (full story)