UK shows first price deflation in 50 years

FOR THE first time since March 1960, the UK has recorded a negative CPI figure, with overall CPI at -0.1% this month.

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According to the Office of National Statistics, prices have risen more slowly than usual following the annual January dip.


Most commentators have taken this to be a positive sign for the overall economy.


Food prices, which reached a high point on Feb 14th, have continued to drop, but at a slightly slower inflationary figure of -3.0%, versus 3.2% last month.


Oils and fats have seen the most significant price falls of 7.8%, year on year, whilst vegetables have shown a drop of -4.4%, year on year.