UK inflation rate falls but still above target
13 December 2011 Last updated at 14:20 GMT
People and businesses across England have revealed how their budgets have been squeezed by months of higher prices.
The rate of Consumer Prices Index (CPI) inflation fell from 5% to 4.8% in November, but it remains well above the Bank of England's 2% target.
And while food, petrol and energy bills climbed, gross annual earnings in England rose by 1.3%, the ONS said.
The Bank of England expects inflation to "fall sharply" in 2012.
Hugh Pym reports.