UK inflation hits zero for the first time on record

Falls in food and fuel prices means consumer prices index - UK's official inflation measure - has not been so low since comparable records began in 1989

Inflation has fallen to zero for the first time on record in Britain, boosting incomes in real terms and handing the chancellor a pre-election advantage.

The consumer prices index dropped in February from 0.3% in January, bringing the UK to the brink of a spell of deflation that is expected in the coming months.

Related: Inflation falls to 0%: what does it mean for the UK economy?

Inflation is running at 0% - the lowest on record. It's good news for family budgets and a sign our long term plan is working.