Nationwide's reporting a fall of 0.5% for December, leaving the annual inflation figure at 4.8%. The three-month figure is down to 0.9% (from 1.4% in November). In the accompanying comment, Fionnuala Earley makes the interesting point that house prices are finishing the year roughly where many analysts expected, however the route has been a little odd. That won't reassure chartists, however, who'll be focussing on the last few months' downward and seemingly sustained downward movement.

Meanwhile, lending's still down... 40% down November-to-November. More on that, here.

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