Governor Mark Carney has said people should 'enjoy the low inflation while it lasts' as the Bank of England will bring inflation up to the 2% target by the end of the year.
We expect inflation to be very low over the next few months. But over the course of the year as we get towards the end inflation should start to pick up towards our 2% target.
The British people should enjoy this period of very low energy prices low, very low food prices, enjoy it while it lasts.
Economic experts have reinforced George Osborne's view that the negative inflation figures released today are not cause for concern.
Britain has fallen into negative inflation for the first time in 50 years but what does that mean for the economy and consumers?