British inflation just dropped back to absolutely nothing again

Inflation slipped to zero in the year to August, according to figures just out from the Office for National Statistics.

Analysts had expected inflation to fall to nothing in August, dropping from +0.1% in the year to July.

Inflation has been particularly weak this year due to the effect of plunging oil prices - and commodities, oil among them, are now tumbling again.

Analysts expected core consumer prices, which strip out the cost of items with volatile prices, like food and energy, to fall to 1% - and it did.