Britain’s inflation rate sank in April to its lowest since August 2016 as the coronavirus pandemic pushed down global oil prices and clothing retailers cut prices, while power tariffs also slid. The consumer price index dropped to an annual rate of 0.8% in April from 1.5% in March, official data showed on Wednesday, broadly in line with economists’ expectations in a Reuters poll. Consumer prices fell by 0.2% in April alone. The Bank of England says inflation could fall below 1% in the next few months. BoE Deputy Governor Ben Broadbent said it might go below zero around the end of 2020 although he did not think that ... (full story)