Prices of a basket of luxury goods and services for the ultra wealthy based in London fell by 1.1 percent in the 12 months ending April 2014, marking a significant fall in price inflation, following an increase of 4.9 percent in the previous year. This is based on research conducted by multi family office, the Stonehage Group.

The decrease, measured by Stonehage’s Affluent Luxury Living Index (SALLI), which the company uses to analyse the true costs of living for its clients, compares to an average inflation rate of 1.8 percent, measured by the UK Consumer Price Index (CPI) over the same period.