Inflation has fallen to a record low of 0 per cent, meaning prices have not risen in the last year.
A supermarket price war helped drive down food prices while the tumbling cost of petrol has eased pressure on motorists.
With wages rising by 1.6 per cent, it means families should see their money going further each month.
Share or comment on this article
No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.