Double/Floats near integer values are not printed correctly in certain situations

[JMarple]

void initialize() {
  for (float x = 0.96; x < 1.04; x+=0.01)
  {
    printf("%f\n", x);
  }
}

Expected Behavior:

0.960000
0.970000
0.980000
0.990000
1.000000
1.010000
1.020000
1.030000

Actual Behavior:

0.960000
0.970000
0.980000
0.990000
0.000000
1.010000
1.020000
1.030000

Steps to reproduce:

Run code above in new project.

System information:

Kernel Version: V2.12.1