View more on these topics

Inflation turns negative for the first time in 50 years

The March Retail Price Index dropped into negative figures for the first time in almost 50 years.

The Office of National Statistics has revealed RPI, which includes mortgage payments, fell to -0.4 per cent, the first time it has gone negative since 1960.

The ONS has blamed the slowdown on the large downward pressure from housing with the main effects coming from house depreciation, mortgage interest payments and, to a lesser extent, buildings insurance.

The Consumer Prices Index, which excludes mortgages, fell in March to 2.9 per cent after February’s unexpected rise to 3.2 per cent. This is still well above the Bank of England’s target of 2 per cent.

Recommended

March mortgage lending up 16%

The Council of Mortgage Lenders has revealed that gross mortgage lending for March rocketed 16 per cent on February’s numbers.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com