Bank of England's Carney sees "very low" inflation in next few months

Bank of England Governor Mark Carney said inflation will likely remain at very low levels for the next few months before picking up towards the end of the year, after data on Tuesday showed inflation fell for the first time in decades. 

PHOTO: AFP

MAY 19, 20157:15 PM

[LONDON] Bank of England Governor Mark Carney said inflation will likely remain at very low levels for the next few months before picking up towards the end of the year, after data on Tuesday showed inflation fell for the first time in decades.

Mr Carney also said Britons should enjoy very low energy and food prices while they last. "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 per cent target," he said in a video on broadcaster ITV's website.

Britain's annual rate of consumer price inflation fell below zero for the first time since the 1960s, official figures showed on Tuesday.

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