UK Inflation Turns Negative

Inflation in the UK turned negative in March for the first time since March 1960. The RPI was -0.4% as mortgage and fuel costs fell, say the Office of National Statistics.

The news was pretty much as expected, indeed many thought that February's RPI might come in negative when in fact it was 0.0%.

The consumer price index also fell from 3.2% in February to 2.9% in March.

So there we have it, deflation is amongst us. How long will it last is the sixty trillion dollar question?

You will note that I've modernised that saying, as sixty million is bugger all these days.