This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-31501805
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| CPI inflation rate falls to record low of 0.3% in January | CPI inflation rate falls to record low of 0.3% in January |
| (35 minutes later) | |
| The rate of UK Consumer Prices Index inflation fell to 0.3% in January, its lowest level since CPI records began. | The rate of UK Consumer Prices Index inflation fell to 0.3% in January, its lowest level since CPI records began. |
| Inflation as measured by the Consumer Prices Index fell from 0.5% in December, helped by cheaper motor fuel. | |
| The Bank of England has said inflation may temporarily turn negative in the spring. | The Bank of England has said inflation may temporarily turn negative in the spring. |
| A supermarket price war has also contributed to the fall in the inflation rate. | A supermarket price war has also contributed to the fall in the inflation rate. |
| Inflation as measured by the Retail Prices Index to 1.1% from 1.6% the previous month, the Office for National Statistics. | Inflation as measured by the Retail Prices Index to 1.1% from 1.6% the previous month, the Office for National Statistics. |
| "Falling prices for motor fuels and food were the main contributors to the slowdown in the rate of inflation," ONS said. | |
| The ONS said that while the cost of food and fuel is lower than a year ago, prices for other items, such as clothing and furniture, are rising. | |
| A lower inflation rate was "excellent news for consumer's purchasing power" said Howard Archer, chief UK and European economist for IHS Global Insight. | |
| "With inflation likely to fall further and earnings growth now finally trending upwards, consumers should see appreciable improvement in their purchasing power as 2015 progresses," he said. | |
| However, he noted that core inflation, which strips out food, energy, alcohol and tobacco prices, rose to 1.4% in January from 1.3% the month before. | |
| "The rise in core inflation highlights the fact that the UK is far from suffering generalised deflation," he said. |