Inflation slumps to a five-year low

Inflation has sunk faster than expected to hit a five-year low last month, official figures showed.

The Consumer Prices Index (CPI) for September stood at 1.1% - down from August's 1.6% - as hikes in household energy bills in 2008 compared with unchanged bills for the same month this year.

The fall to CPI's lowest level since September 2004 caught economists by surprise and put further strain on the pound, which edged another step closer to parity against the euro.

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