CONSUMER Prices Index inflation fell to 1 per cent in November, official figures show.

Cheaper fuel prices have pushed the UK's rate of inflation down to a 12-year low, official statistics show.

The Consumer Prices Index inflation measure - which covers the cost of basic household goods - fell to a rate of 1 per cent in November from 1.3 per cent in October.

If inflation falls below 1 per cent the Bank of England would have to write a letter of explanation to the chancellor.

Inflation as measured by the Retail Prices Index fell to a five-year low of 2 per cent, down from 2.3 per cent.

The Office for National Statistics said falling fuel prices, caused by the decline in global oil prices, have brought the costs of both road and air travel down, with petrol prices down 5.9 per cent in November.

Additionally, food prices fell by 1.7 per cent.