24/03/2015

UK Inflation At Lowest Level Since Records Began

The UK inflation rate has fallen to its lowest level since records began.

New figures from the Office for National Statistics show that in the level of the Consumer Prices Index (CPI) inflation fell to 0% in February, for the first time since official records began in 1988.

The Consumer Prices Index, measures changes in the prices of the goods and services bought by households. The ONS figures show that it remains unchanged in the year to February 2015.

This means that a basket of goods and services that cost £100.00 in February 2014 would have still cost £100.00 in February 2015. While some prices – such as for motor fuels and food – are lower than they were a year ago, others – such as for clothing and rents – are higher.

The full ONS report can be read here.

(MH/IT)

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