The UK inflation rate is running at record lows after the Office for National Statistics announced a zero percent inflation rate for the second month in a row.<br /><br /> Cheaper clothing and footwear, offset by a rise in petrol prices, kept inflation bumping along at the same rate.<br /><br /> It straight terms it means that the cost of living is the same as last year.<br /><br /> The rate is well below the Bank of England’s target of 2 percent.<br /><br /> The UK is not expected to fall into entrenched deflation and inflation is expected to move up later in the year.
