is striking. According to Save Borrow Spend:
The headline rate of inflation, which includes mortgage payments, has fallen below zero for the first time in 50 years.
RPI stood at 0.4 per cent last month - down from zero in February - showing the cost of living is actually getting cheaper.
But negative RPI should not necessarily be welcomed. The figure is often used as a benchmark to set wage, state pension and other benefit increases.
Millions of public sector workers could find their incomes on hold if the UK enters a period of deflation. Council workers, nurses and teachers could all see their pay cheques stand still because public sector pay is tied to the RPI.Let the deflationary cycle begin.