UK inflation turns negative for first time since 1960

Britain's annual inflation rate sank into negative territory last month for the first time in more than half a century, official data showed on Tuesday.

The rate hit minus 0.1 percent in April, the Office for National Statistics (ONS) said in a statement, risking a period of deflation for Britain's economy.

Prices were pushed into negative territory on the back of falling transport services -- notably air and sea fares -- and the earlier timing of Easter.

That was the lowest rate on record -- since the data series began in 1996 -- and comes after two previous months of zero inflation.

The ONS added that it was the first time that inflation has turned negative since 1960, citing comparable historic estimates.