It's a 0.8% drop... the biggest monthly tumble since June 1995. The annual inflation figure now rests at 6.9%, down from 9.7% a month ago. Now - although there's little doubt the UK property market is cooling, and rapidly - it's important to remember that it was Nationwide who posted last month's shock rise. That October figure - a rise, against all other indices and indicators, of 1.1% - not only looks more than ever like a statistical blip, but also goes some way to explain the size of this month's fall. Nationwide's three-month inflation figure shows a softening, from 1.8% to 1.5%.

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