UK Inflation Turns Negative For The First Time Since 1960

Figures released recently have revealed that the main measure of UK inflation turned negative for the first time since the measure has been in existence. 

The measure, known as the Consumer Price Index (CPI), reached a figure of -0.1% in April and based on historical estimates, is the first negative figure that has been recorded in the UK since 1960. It is believed that the biggest contribution to the downturn of inflation came from a fall in travel fares, with costs thought to be 2.8% lower than last year. Food is also 3% cheaper compared to April 2014s figures. 

Mark Carney, governor of the Bank of England, discussed his thoughts on whether this statistic represented an ongoing trend in the UK economy. Although he did think that the situation would remain largely similar for the next few months he did think that ‘towards the end [of the year], inflation should start to pick up towards our 2% target.’ 

In the interview below, Chancellor George Osborne stated that these figures should not be mistaken for ‘damaging deflation.’ Forecasters believe that the negative inflation will not last long and are avoiding describing these figures as a sign of deflation. George Osborne did add that ‘of course, we have to remain vigilant to deflationary risks and our system is well equipped to deal with them, should they arise.’

As a result of these comments, business owners and others are left wondering whether their own companies are equipped to cope with wider economical changes. In light of the figures released it is crucial companies arrange their businesses in a way that will safeguard their operations. 

To find out more about safeguarding your business and emergency IT support or if you have any questions please get in touch with us. 

360ict provides managed IT services and support for SMEs in central London and the south-east, including London Victoria, Euston, Croydon and Bromley. For more advice on gaining competitive advantage as a mid-sized company, give us a call on 0208 663 4000 or head to our website.

Why SMEs Are Choosing 360ict For Their IT Managed Services

Why Choose Us?

360ict has been a full managed services provider in London for over 10 years. We help small and midsize enterprises achieve the results that matter most with our technology expertise and flexible ICT solutions. 

We believe in:

No contracts. 
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We provide essential office support, from basics such as business internet to cloud and data centres, relocation services and printer fleets. We want to be the one phone number you call when problems come up.

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Reasons to work with us:

- We offer a simple to use, commitment free (no email address / portal login) calculator to help you review the value of your ICT service provision.

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- Get all your ICT services under one roof, no more dropped lines of communication between two third parties. We do it all and you get one number to call for anything ICT related.

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- None of our services are pre-determined. We tweak and cater our services towards your offices’ specific needs. Get exactly what you need and want.

- You’ll have a fully supported infrastructure leaving you free to concentrate on your customers.

360ict provides managed IT services and support for SMEs in central London and the south-east, including London Victoria, Euston, Croydon and Bromley. For more advice on gaining competitive advantage as a mid-sized company, give us a call on 0208 663 4000 or head to our website.