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British inflation rate remains negative in October

Xinhua, November 18, 2015 Adjust font size:

British Consumer Price Index (CPI), a gauge of inflation, fell by 0.1 percent in October, the same fall as in September, the Office for National Statistics (ONS) released on Tuesday.

Upward price pressures for clothing and footwear and a range of recreational goods were offset by downward price pressures for university tuition fees, food, alcohol and tobacco, resulting in no change to the overall rate of inflation, ONS said.

It was the first time CPI has fallen on an annual basis for two months in a row. The rate of inflation has been at or around 0.0 percent for most of 2015.

Bank of England governor Mark Carney has said it could be two years before inflation returns to its 2 percent target. Endit