UK Inflation Falls Back to 0%

September 15, 2015 Share Print 0

The UK’s inflation rate fell to 0% in August, down from July’s rate of 0.1%, the Office for National Statistics (ONS) has said.

Inflation, as measured by the Consumer Prices Index, fell due to a smaller rise in clothing prices from a year ago and cheaper fuel prices, the ONS said.

CPI inflation has been almost flat for the past seven months.

Inflation has failed to take off due to a sharp fall in oil prices and a continuing supermarket price war.

Oil prices hit a six-and-a-half year low of around $42.50 per barrel in late August.

The ONS figures also showed that the Retail Prices Index (RPI) measure of inflation rose to 1.1% from 1.0% in July.

Via BBC News

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.