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U.K. Inflation Falls to Zero
The U.K.'s inflation rate declined to 0% in February, the lowest level since the Office for National Statistics began calculating its Consumer Prices Index in 1988.
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The U.K.'s inflation rate declined to 0% in February, the lowest level since the Office for National Statistics began calculating its Consumer Prices Index in 1988.
The agency says lower food and fuel prices offset increases in such costs as clothing and housing. The U.K.'s core inflation rate, which excludes food, energy, alcohol and tobacco, was 1.2% last month.
Britain's consumer price index has been slowly declining since mid-2011. The Bank of England considers 2% inflation normal and a healthy stimulant to economic growth.
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