Inflation rate remains negative

News Update from CFM (UK) Ltd: The UK's inflation rate as measured by the Consumer Prices Index remained at -0.1% in October, the Office for National Statistics has said. The ONS added that the Retail Prices Index, a separate measure that includes housing costs, fell to 0.7% in October from 0.8% in September. This is the lowest RPI rate since November 2009. October marked the first time the CPI has fallen on an annual basis for two months in a row since the index was created in 1997. The price of clothing rose last month, but this was offset by a fall in food, alcohol and tobacco. The ONS said fuel prices fell by 14% on an annual basis, while food and drink prices fell by 2.7% in October and energy costs were 4.1% lower. "This is now the ninth month running that CPI has been at or very close to zero," ONS statistician Richard Campbell said.

BBC News   Evening Standard London, Page: 2, 42   Financial Times  The Daily Telegraph, Business, Page: 1   The Guardian, Page: 26

Posted on November 24th 2015

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