Retail prices index (RPI) inflation once again remains in negative territory at -1.4% (PDF format, 60.7K) (external website), according to latest official data published today (Tuesday 13 October 2009). It is now seven months since RPI went negative, the first time the headline rate had fallen below zero since February 1960.
Today's inflation data show that:
- RPI inflation ran at -1.4% in September 2009. This was down 0.1 percentage point on the figure recorded one month previously (-1.3% in August 2009).
- Consumer prices index (CPI) inflation - the Government's preferred measure - continues to undershoot the Government's 2% target rate, running at 1.1% in September 2009 (down 0.5 percentage points from 1.6% in August 2009).
But despite today's fall, RPI is expected to rebound into positive territory in the next few months.
The minutes of the September 2009 meeting Bank of England's Monetary Policy Committee warn that inflation could rise "sharply" in the immediate future (PDF format, 91.7K) (external website).
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