CPI

Fund managers and economists have reacted to the surprise news that only one MPC member voted for a rate rise this month, saying the UK economy is 'not out of the woods yet'.

UK CPI inflation fell back to zero last month, down from 0.1% in May, as the prices of clothing, fuel and food all fell.

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The Office for National Statistics this morning revealed UK CPI inflation turned negative for the first time on record, but key industry figures suggest this deflationary spell will be temporary.

UK CPI inflation has turned negative for the first time on record, as the recent slump in the oil price continues to put deflationary pressures on the UK economy.

The UK's headline inflation rate avoided negative territory in March but core inflation saw a surprise drop to its lowest level in nine years, latest figures show.

The UK employment rate in the three months to January hit a record high of 73.3%, according to latest figures released by the Office for National Statistics (ONS).

The FTSE 100 is within sight of its all-time high after closing at its highest level for 15 years on Tuesday.

Inflation fell to 0.3% in January, the lowest level ever recorded, as price growth continued to slump on the back of falling oil prices.