UK inflation forecast to remain negative

Consumer prices index (CPI) has been dragged down by tumbling global commodity prices and the effects of a strong pound

The UK's inflation rate is expected to have remained in negative territory when official figures are released on Tuesday, leaving the Bank of England in little hurry to start raising interest rates.

Economists expect data for October to show the inflation rate as measured by the consumer prices index (CPI) held at -0.1%, according to the consensus in a Reuters poll. Inflation has been at or close to zero for most of this year and first dipped into negative territory in April when prices fell for the first time in more than 50 years.