UK inflation hits zero

Bank of England artwork
The Bank of England

UK consumer price inflation fell to zero in the year to February, according to data released today by the Office for National Statistics (ONS).

Food and oil prices continue to drive falling inflation, but the ONS said recreational goods and furniture also made strong contributions over the period, with "no large upward effects" to counterbalance the decline.

Food prices fell 3.4% in the year to February, while "motor fuels" plummeted 16.6%, pushed down by the dramatic oil price fall in the autum

To continue reading...