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.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more
- Regenerative farming, cover crops will help farmers increase yields, reduce stubble burning: IDH CEO