Dip In UK Inflation

UK inflation's fallen to zero for the first time since records began, according to the Consumer Price Index.

Official figures show it dropped to 0.0% last month, down from the previous record low of 0.3% recorded in January.

It's down to lower costs of food, fuel, laptops and tablet computers.

Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: "The fact that inflation now sits at 0.0% reveals just how out of step business rates increases have become. Instead of annual rates increases being in step with inflation, next week will see bills rise by 2%, far in excess of the current rate of inflation.

"Indeed, since the last revaluation in 2010, business rates revenues in Scotland are projected to have increased by £731 million by 2015-2016, which represents some £470 million over and above the rate of inflation.

"With the Scottish Parliament's basket of taxes growing and a full review of business rates being implemented in England, it is time for constructive change here in Scotland."