Hamish McRae: Low inflation is welcome news for consumers – and not so bad if you’re a saver

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If you think 0.5 per cent inflation is stunningly low, wait a month or two. It looks very much as though the consumer price index will actually go negative in the next couple of months, the first time it will ever have done so. Indeed the much longer series, the retail price index, has not gone negative since the middle of 1959, when it dipped briefly. Falling prices are a rare experience indeed.



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