Annual inflation turns negative in March 2009
Posted on 22. Apr, 2009 in General News
UK annual inflation measured by the Retail Prices Index (RPI) went negative in March 2009, to -0.4%, down from zero in February 2009.
RPI includes mortgage costs, which have fallen following reductions in interest rates. The Consumer Prices Index (CPI), fell in March to 2.9% after February 2009′s rise to 3.2%, according to the Office for National Statistics.
The biggest downward pressure on inflation has come from energy prices as the price of oil was significantly below the level it had been in the same month in 2008. Transport costs also fell as a result of lower fuel prices, which also fed into lower air fares. Items in the ONS basket that were more expensive included the games, toys and hobbies category, with the price of computer games rising.
Source: BBC 21-04-2009
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