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Tuesday, October 13, 2015

CPI Turns Negative

Britain’s inflation rate has turned negative, for only the second time since 1960 in September.

Annual consumer prices (CPI) fell by 0.1% after stagnating in August, the Office for National Statistics said today. Economists had forecast stagnation.

Prices last declined in April, which was the first sub-zero reading since 1960.

However, the Retail Price Index remained positive; dropping from 1.1% to 0.8%.

What does this mean?

It means interest rates are not going to rise anytime soon, as I have repeatedly said on this site.

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