Island enters deflation
Wednesday 22nd April 2009, 2:31PM BST.
GUERNSEY has entered deflation for the first time since records began in 1965.
The Retail Price Index stood at -1.2% at the end of March.
The most significant factor was housing because of unprecedented reductions in the Bank of England base rates, leading to significant decreases in the mortgage interest component.
The RPIX rate, which excludes mortgage interest payments, stood at 3.3%.
This has fallen from 4.6% at the end of December 2008.
Jersey was still experiencing inflation at the end of March with an RPI of 2.1% and the equivalent figure in the UK was -0.4%
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