PRICE stagnation is expected to return today when the latest Consumer Price Index measure of inflation is published.
It is expected to edge up to zero when official figures are released as oil price cuts and Black Friday discounting eased compared to a year ago.
The measure has hovered between a narrow range of 0.1 per cent and minus 0.1 per cent for the last nine months, straying into negative territory in October, September and April.
The latest inflation figures from the Office for National Statistics are expected to show that despite oil prices continuing to fall to near seven-year lows, they declined by less than they did in November last year.
A range of supermarkets last week cut the petrol price below £1 a litre, the lowest UK price level, excluding special promotions, since 2009.
But economists at Pantheon Macroeconomics said overall oil prices fell by 1.5 per cent last month, compared to 2.3 per cent a year ago.
Pre-Christmas Black Friday sales may also have less of an effect than a year ago, as a number of retailers such as supermarket Asda did not take part in the sales period, saying it ate into key Christmas profits. Others cut back on their Black Friday promotions.
A number of economists add that a slowing in the rate of oil price falls and a steadying of global food prices in recent months may lead inflation to edge up further to 0.1% in November.
Last month the Bank of England again left interest rates at record lows as the cost of borrowing was held once more at 0.5 per cent.
The decision comes as the US Federal Reserve is poised to make its first interest rate increase in nearly a decade, while monetary policy in Europe is moving in the opposite direction.
However, Bank Governor Mark Carney has said a decision to raise rates in the US is "not decisive" for UK policymakers, stressing any such move on these shores will be made according to UK economic conditions.
The Bank has said that inflation will stay below 1 per cent until the second half of 2016.
