ONS: Inflation rate drops to zero
News Category: Industry News
Published: 24-Mar-2009
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Office for National Statistics (ONS) figures show that the UK's broadest measure of inflation - the RPI rate - dropped to zero per cent in February.
Landlords may be interested to know that this is the weakest reading since 1960, although it is higher than many economists had predicted.
It comes on the back of the 0.1 per cent figure recorded in January and after experts had presumed it would reach negative territory this month.
RPI is expected to drop further during the year, with industry commentators suggesting it could reach minus four per cent at some stage.
Interest rate decreases and lower mortgage costs are contributing to this descending figure.
Earlier this week, the National Landlords Association chairman David Salusbury offered landlords advice on how to stay competitive in the current economic climate.
He told the UK Landlord publication that property owners should undertake assessments of their portfolios by focusing on tenant requirements and analysing the facilities they provide.
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