This is the best summary I could come up with:
A surprise fall in inflation in November has raised hopes that the Bank of England will begin cutting interest rates sooner than expected.
Meanwhile, the prices of a variety of baked goods, including white and wholemeal sliced bread, along with packs of cakes fell between October and November after rising a year ago.
Chef Seema Dalvi, at Dalvee restaurant in Poulton, Lancashire told the BBC that while price rises were slowing down "inflation is definitely killing us".
However, on Wednesday Martin Beck, chief economic adviser to the EY Item Club, said the Bank would now find it harder to justify its "high for longer rhetoric around interest rates".
Chancellor Jeremy Hunt said the latest inflation figures set the UK "back on the path to healthy, sustainable [economic] growth", but that the government would "continue to prioritise measures that help with cost of living pressures".
But Rachel Reeves, Labour's shadow chancellor, said "prices are still going up in the shops, household bills are rising and more than a million people face higher mortgage payments next year after the Conservatives crashed the economy".
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