UK INFLATION IS AT ZERO
REUTERS/Jean-Paul Pelissier
The UK is now hovering right on the edge of technical deflation, with prices actually falling. Economists had expected inflation to fall to +0.1% today.
The actual result is the lowest figure since March 1960, according to the Office for National Statistics. The figure now hasn't been at 2%, which is the Bank of England's target, since December 2013.
The core inflation figure, which strips out the effect of volatile price movements like energy and food, came in at 1.2%, down from the 1.4% seen in January.
The Bank of England's chief economist Andy Haldane made a speech last week in which he suggested that UK interest rates might actually have to fall - contrary to expectations that they will rise in the next 12 or 18 months.
- India's steel demand boom to continue, set to grow at 10% over next few years: Steel Secretary
- Brewing brilliance: 5 essential tips for cold brew success
- 10 food items that can help you prevent suffering heat stroke
- Google Wallet launched in India – store your loyalty cards, boarding passes and more
- AstraZeneca continues to face legal action even after withdrawing its COVID vaccine! Know all about it here
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market