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.
The sharp fall in the UK inflation rate is not cause for concern, Chancellor George Osborne will say in a speech later today.
Figures released this morning by the Office for National Statistics showed UK CPI inflation fell to a surprise 0.5% in December, the lowest level since May 2000. We round up the reaction from leading investors and economists.
UK consumer price inflation has fallen to a 15-year low of just 0.5%, driven by plunging oil prices.
The eurozone slid into deflationary territory in December for the first time in five years, according to preliminary figures released today.
UK unemployment fell by 63,000 to 1.96 million in the three months to October, while wage growth picked up, according to the Office for National Statistics (ONS).
Managing the low inflation challenge
UK CPI inflation rose to at an annual rate of 1.3% in October, according to ONS figures released today.
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Low inflation: Positive or problematic?
UK CPI inflation has fallen to its lowest level in five years, undershooting estimates as the impact of falling petrol prices dragged the headline level down near to 1%.
A good news story
UK consumer price inflation assumed its downwards trajectory once more in July following a sharp spike the previous month.
Fund managers have backed financials, retailers, and housebuilders to benefit following the latest move down in UK inflation.
UK Consumer Prices Index (CPI) inflation fell in the year to May, after the previous month saw its first climb in 10 months.