The UK has tipped into deflation for the first time in 50 years, as prices for goods and services fell by 0.1 per cent in the year to April.
The last time inflation dropped below zero was in the 1960s, the Financial Times reports.
Britain has been „teetering on the brink“ of deflation for several months, the FT says, due to a combination of low oil prices, a strong pound and the ongoing supermarket price war.
The Bank of England says that inflation will likely remain close to zero for the rest of the year before beginning to rise around November or December.