Page last updated at 12:53 GMT, Wednesday, 22 April 2009 13:53 UK

Island inflation rate below zero

Inflation has fallen below zero for the first time in Guernsey.

The figure, measured by the Retail Price Index (RPI) for last month was nearly 2.5% lower than a year earlier, at -1.2%.

Reductions in the Bank of England base rate have brought down the RPI, which includes mortgages. Cuts in fuel and power prices also contributed.

The RPIx figure, which excludes mortgage payments, stands at 3.3%, down more than 1% on the last quarter.

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