Inflation rate turns negative

Figure hits its lowest point since March 1960

Stack of British pound coins falling on list of share prices

Inflation turned negative by the narrowest of margins in March as it dropped to minus 0.01%, official figures showed today.

The Consumer Price Index (CPI) measure of inflation was officially given as zero, the same as in February.

But a calculation to two decimal places showed that CPI was slightly lower in March, having been at plus 0.03% the previous month.

The headline CPI rate of zero remains the lowest since comparable records from the Office for National Statistics (ONS) began in 1989.

According to an experimental model created by the ONS, it was last lower - at minus 0.6% - in March 1960.

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