The UK's consumer prices index fell to 1.9% in January, bringing it under the Bank of England's 2% target rate for the first time in four years.
The UK's headline inflation rate fell to 2% in December, rounding off a near one percentage point fall since the summer, official data has shown.
Is it called Blue Monday because the Prime Minister decided to start next year's election campaign on Monday last week?
The UK could be the first developed country to raise interest rates, with a hike coming as soon as next year, according to Fidelity fixed income head Andrew Wells.
Bond managers are buying back into European government debt, as worrying inflation figures revive fears the eurozone could sink into a period of Japan-style deflation.
UK consumer prices index (CPI) inflation remained stable in September at 2.7%.
Official consumer prices index (CPI) inflation is expected to dip this week when official figures are released.
The total deficit of private sector UK defined benefit (DB) schemes increased by £100bn last month as rising inflation expectations pushed up liabilities, figures show.