The likelihood that the UK will be included in the deflationary cycle is low, said a representative of the British Treasury. David Ramsden, Head of macroeconomic and fiscal policy in the Treasury, said that the effect of weakening the pound "softened" deflationary pressure from lower wages in the UK. "We must remain vigilant to the risk, but I still think that the UK is low probability of materializing," - he said the legislators at a meeting of the Ad Hoc Committee.
Ramsden is one of the major posts in the Treasury.
UK retail price index for the year - the broadest measure of price pressures - fell in March for the first time almost 50 years. However, the consumer price index surprised economists, falling moderately in recent months to 2.9% in March, above the target level of 2% of the Bank of England.
Ramsden is one of the major posts in the Treasury.
UK retail price index for the year - the broadest measure of price pressures - fell in March for the first time almost 50 years. However, the consumer price index surprised economists, falling moderately in recent months to 2.9% in March, above the target level of 2% of the Bank of England.
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