The fall in food prices in the 12 months to mid February of 2.1%, is a post war record, according to the latest inflation report from the government. A similarly sharp decline was only seen once before, in March 1960, when it touched 2.0%. There were year on year price declines in foods, household products, clothing, and chemists goods. In his Budget speech, Gordon Brown reported overall inflation in the UK below his 2.5% target, at 2.3%. Excluding food, the all items rate would have been 3.0%. However the figures for the four week period to February 15 reveal a less dramatic picture, with many individual sectors recording little change compared with widespread increases this time last year. {{NEWS }}