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Britain's inflation rate falls to 0.3%; lowest since 1988

  • Britain’s inflation rate dropped to 0.3% in January, the lowest ever since records were started.

    Data from the office for national statistics show that falling oil and food prices, the latter due to a price war among supermarkets, have cut the consumer prices index inflation from the December figure of 0.5%.

    The January figure is the lowest rate since records started in 1988.

    The Bank of England recently said that UK's inflation could turn temporarily negative in a few months.

    Tagged as: Britain, inflation rate, oil, food prices, supermarkets, price war, consumer prices index, negative inflation, business news