Inflation rate falls to lowest level since August 2016

21 May 2020

The UK's inflation rate fell to its lowest level since August 2016, data published by the Office for National Statistics (ONS) has revealed.

The Consumer Prices Index (CPI) fell to 0.8% from 1.5% in March, the data showed. Lower petrol and diesel prices alongside lower energy bills helped to decrease the rate of inflation.

However, the prices of games and toys rose. The ONS stated that this may be due to more people having to stay home as a result of the coronavirus (COVID-19) lockdown.

The fall in the rate of inflation could be positive news for savers: individuals may be able to get above-inflation interest rates on some savings accounts.

Commenting on the figures, Jonathan Athow, Deputy National Statistician for Economic Statistics at the ONS, said: 'While the coronavirus limited the availability of some goods and services, its effect on prices was more muted.

'Food prices grew no more quickly than other goods and services, though fresh vegetables did see stronger rises.'

Home | Contact us | Accessibility | Disclaimer | GDPR (including Standard Terms of Business) | Help | Site map |

© 2024 BPU Accountants. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


BPU Chartered Accountants is the trading name of BPU Ltd Company number 3723948 registered in Wales. Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.

BPU Financial Solutions Ltd is an Appointed Representative of ValidPath Limited which is authorised and regulated by the Financial Conduct Authority. ValidPath Limited is entered on the Financial Services register (www.fca.org.uk/register) under reference 197107.

BPU Accountants, Radnor House, Greenwood Close, Cardiff Gate Business Park, Cardiff CF23 8AA
BPU Accountants, The Counting House, Pound Field, Llantwit Major, Vale of Glamorgan CF61 1DL