Figures released by the Office for National Statistics show that in January inflation fell to a record low of 0.3 per cent.

Commenting on the news, Liberal Democrat Chief Secretary to the Treasury Danny Alexander said:

“With Liberal Democrats anchoring economic policy in the centre ground, and with record employment, strong growth, rising wages and low inflation Britain has a golden opportunity to enjoy a long and sustained recovery.

“The biggest threats to that opportunity are either a Labour or Conservative majority government both of which would lurch Britain away from the centre ground. Britain is on the right track – only the Lib Dems can keep us there.”