Prices are still going nowhere in Europe

Europe's prices still aren't rising.

The consumer price index (CPI), the main index of inflation, recorded 0% growth in April compared to a year earlier, unchanged on the previous month's reading.

That was in line with forecasts from analysts.

Prices rose by 0.2% in April compared to March, in line with forecasts but a slowdown from March's growth figure, when prices rose by 1.1% on the previous month.

The figures are extremely low by historical standards.

The reading comes as the UK slips into deflation for the first time for the first time in more than half a century.

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