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rdf:type	schema:NewsArticle
schema:articleBody	British inflation hit a near four-year low in April as oil prices crashed, official data showed Wednesday, with the rate set to slide further as the coronavirus slashes prices generally. The Consumer Prices Index (CPI) annual rate slumped to 0.8 percent last month from 1.5 percent in March, the Office for National Statistics said in a statement. Analysts' consensus forecast had been for a slide to 0.9 percent. "The fall in the headline rate of CPI inflation in April to its lowest level since August 2016 primarily was due to a 0.6 percentage-point reduction in the contribution from energy prices," noted Samuel Tombs, chief UK economist at Pantheon Macroeconomics. He added that inflation was set to hit zero by the summer as "retailers are planning further large price cuts". While Britain's government has eased its lockdown, the bulk of shops remain shut as the country's official death toll from COVID-19 reached at least 41,000, second only to the United States. World oil prices have meanwhile plummeted during the crisis on eroding demand for crude, pulling down prices of petrol and jet fuel. "It's widely accepted that the pandemic is a profoundly deflationary shock to the global economy," Neil Wilson, chief market analyst at trading group Markets.com, said following Wednesday's data. "No surprise then that UK consumer price inflation" tanked in April. bcp/rfj/rl
schema:headline	UK inflation dives on oil-price crash
schema:mentions	Consumer price index World energy consumption 1977 Mississippi CV-240 crash Neil Winters Inflation Lockdown Pandemic United Kingdom United States Coronavirus disease 2019 No Surprise (Daughtry song) Consensus forecast Jet fuel Pantheon Macroeconomics Economy
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-20 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	65 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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