Inflation, that once-feared scourge of sterling and the economy, has disappeared from Britain according to official statistics for February.<br /><br /> For the first time since records began annual inflation dropped to zero, and the bigger-than-expected decline indicated the only direction for consumer prices in at least the short term is down.<br /><br /> The pound dipped against the dollar as a result, and the forecast is for negative inflation growth for March.<br /><br /> Experts are discounting the risk of deflation in the short term, much less of a risk than in the neighbouring eurozone where deflation shows signs of becoming entrenched, and instead point to the positive effects on household disposable income.
