article_snippet: Official figures revealed the inflation rate fell to 0 per cent last month – the lowest level since 1960.
article_snippet: the inflation rate has been held at a historic low 0.5 per cent for six years but the Bank of England England has admitted that, far from raising rates, the Bank of England could even cut far from raising rates further to avoid prolonged deflation.
article_snippet: The Office for National Statistics found the Consumer Prices Index between February 2014 and February 2015 stood at 0 per cent .
article_snippet: Andrew Haldane, the Bank’s chief economist, suggested earlier this month that rates could be cut to zero because inflation had ‘dropped like a stone’.
article_snippet: Estimates released by the Office for National Statistics show the last time inflation was below 0 per cent was March 1960 – when Harold Macmillan was Prime Minister and The Beatles had just formed in Liverpool.
article_snippet: But it is the plummeting cost of petrol, diesel and food that has dragged down the rate to zero.
article_snippet: It looks odds-on that inflation will turn negative in March, when the recent cut in gas prices by British Gas show up in the inflation figures for the first time.
article_snippet: ’ Rob Wood, of Berenberg Bank, said there was ‘a good chance inflation could turn negative next month’.
highlights_snippet: Consumer Prices Index falls to 0%, meaning prices did not rise in a year .
  