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| Version 1 | Version 2 |
|---|---|
| Inflation measure turns negative | Inflation measure turns negative |
| (10 minutes later) | |
| UK annual inflation measured by the Retail Prices Index (RPI) went negative in March for the first time since 1960, to -0.4%, down from zero in February. | |
| RPI includes mortgage costs, which have fallen following the Bank of England's reductions in interest rates. | RPI includes mortgage costs, which have fallen following the Bank of England's reductions in interest rates. |
| The Consumer Prices Index (CPI), fell in March to 2.9% after February's unexpected rise to 3.2%, the Office for National Statistics (ONS) said. | The Consumer Prices Index (CPI), fell in March to 2.9% after February's unexpected rise to 3.2%, the Office for National Statistics (ONS) said. |
| The official CPI figure is still well above the government's target of 2%. | The official CPI figure is still well above the government's target of 2%. |
| The ONS said that the biggest downward pressure on inflation had come from energy prices as the price of oil was significantly below the level it had been in the same month last year. | The ONS said that the biggest downward pressure on inflation had come from energy prices as the price of oil was significantly below the level it had been in the same month last year. |
| Vegetable imports from Spain revived, sending vegetable prices lower, after being hit in the previous month by poor weather conditions. | |
| Transport costs also fell as a result of lower fuel prices, which also fed into lower air fares. | Transport costs also fell as a result of lower fuel prices, which also fed into lower air fares. |
| Items in the ONS basket that were more expensive included the games, toys and hobbies category, with the price of computer games rising. | |
| The price of clothing was also up from a year ago, with women's outerwear a particular driver. |