Coronavirus: UK inflation hits 1.5% as lockdown begins to bite

Wed, Apr 22nd 2020, 04:51 PM

The Consumer Prices Index (CPI) fell from 1.7% in February, according to the Office for National Statistics (ONS).

Clothing stores had offered more discounts as shoppers began staying at home, it said. Falling oil prices also resulted in cheaper petrol prices.

Economists warn inflation could slide to 0.5% in 2020 as the economy shrinks.

The ONS's latest data was collected on 17 March, just before lockdown started on 23 March. But its head of inflation, Mike Hardie, said there were already signs people were spending less in shops and more on necessities such as food.

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