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UK consumer price index remains in negative territory

Staff writer |
The UK consumer price index (CPI) remained into negative territory for the second consecutive month in October.

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According the Office for National Statistics, UK inflation declined 0.1% year-on-year in October, in line with analysts' expectations and flat from the previous month reading.

Core inflation, which excludes volatile items such as food and energy prices rose 1.1% year-on-year from a 1% reading in the previous month, a figure analysts expected would remain unchanged.

On a month-on-month basis, inflation was unchanged at 0.1%, in line with forecast.

So far in 2015, consumer price inflation has been below 1% and it has fallen short of the Bank of England's 2% target since the end of 2013, with Threadneedle Street officials expecting the figure to remain low into next year.

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