Inflation does now officially not exist in our green and pleasant land, as the figures released by the ONS (Office of National Statistics) confirmed the UK inflation rate covering February this year, has eased from January's 0.3% to zero.

Economic data covering CPI dates back from 1989 and this is the all time low, helped by the fall in food prices and the recent collapse in fuel costs, yet to attempt any kind of recovery.

No sign of the downward trend reversing, so deflation beckons for now, which will anchor UK interest rates at the current 0.5% for the foreseeable and there may be room for a further 1/4% lower in the next 6 months or so.