Dip In UK Inflation

UK inflation's fallen to zero for the first time since records began, according to the Consumer Price Index.

Official figures show it dropped to 0.0% last month, down from the previous record low of 0.3% recorded in January.

It's down to lower costs of food, fuel, laptops and tablet computers.

Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: "The fact that inflation now sits at 0.0% reveals just how out of step business rates increases have become. Instead of annual rates increases being in step with inflation, next week will see bills rise by 2%, far in excess of the current rate of inflation.

"Indeed, since the last revaluation in 2010, business rates revenues in Scotland are projected to have increased by £731 million by 2015-2016, which represents some £470 million over and above the rate of inflation.

"With the Scottish Parliament's basket of taxes growing and a full review of business rates being implemented in England, it is time for constructive change here in Scotland."

 

More from Local News

Kingdom FM VIP Club

Receive special offers, exclusive members only competitions, and more.

Sign Up Log In