British CPI down to a record low in Jan.
Xinhua, February 17, 2015 Adjust font size:
Britain's consumer prices index (CPI) fell to 0.3 percent in the year to January 2015, reaching a record low, data from the Office for National Statistics (ONS) showed Tuesday.
The inflation rate was down to 0.3 percent from 0.5 percent in December 2014, the lowest level since CPI records first began in 1988.
Last week, the Bank of England forecast British inflation would fall further, potentially turning negative in the spring.
Dropping prices for motor fuels and food were the main contributors to the inflate rate slowdown. Gasoline is now at its lowest price since November 2009 and diesel is the lowest it has been since February 2010, according to the ONS.
On the up side, smaller price decreases in the clothing industry than a year ago partially offset the slowdown.
CPIH, an inflation gauge of consumer prices and housing costs, increased only 0.4 percent in the year to January 2015, down from 0.6 percent the previous month, data also showed. Endit