Inflation rate hits record low

Inflation has now broken all records. It hit an all-time low in April, falling to its lowest level since records began in 1948. Under the Retail Prices Index measure, it was minus 1.2%, down from minus 0.4% in March.

It beat the record of 50 years ago when it was minus 0.8% in June 1959.The main reasons were lower mortgage interest payments and cuts in gas and electricity tariffs.