UK consumer price inflation fell sharply to 0.5% in December, down from 1% in November, the Office for National Statistics (ONS) has said.
December's rate is the joint lowest on record, easing pressure on the Bank of England to raise interest rates.
Many economists had forecast a rate of about 0.7% because of the slide in global oil prices.
The rate of Retail Prices Index (RPI) inflation fell to 1.6% from 2% the previous month, the ONS said.
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