Tuesday, May 19, 2009

United Kingdom Deflation Alert

Bloomberg reports:

U.K. inflation slowed more than economists forecast in April to the weakest level in 15 months as the recession undermined price pressures in the economy.

Consumer prices rose 2.3 percent from a year earlier, the Office for National Statistics said today in London. The median forecast in a Bloomberg News survey of 28 economists was 2.4 percent. The retail price index measure of inflation dropped an annual 1.2 percent, the most since records began in 1948.