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UK inflation drops to lowest since 2016 as coronavirus hits

Published 20/05/2020, 07:17
Updated 20/05/2020, 09:15
© Reuters. FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Birmingham

LONDON (Reuters) - Britain's inflation rate fell sharply in April to its lowest since August 2016 as retailers resorted to discounts in the face of the coronavirus shutdown, global oil prices slumped and regulated water and power tariffs slid.

The consumer price index dropped to an annual rate of 0.8% in April from 1.5% in March, official data showed on Wednesday.

© Reuters. FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Birmingham

Economists polled by Reuters had mostly thought the CPI would fall to 0.9%.

 

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