Inflation turned negative for the first time in more than half a century in April, official figures showed today.
The Consumer Price Index (CPI) measure of inflation dipped to minus 0.1%, according to the Office of National Statistics (ONS).
It is the lowest rate on record and comes after two previous months of zero inflation.
Governor Mark Carney has said people should 'enjoy the low inflation while it lasts' as the Bank of England will bring inflation up to the 2% target by the end of the year.
Economic experts have reinforced George Osborne's view that the negative inflation figures released today are not cause for concern.
Britain has fallen into negative inflation for the first time in 50 years but what does that mean for the economy and consumers?