UK inflation fell to 2.3% in April, a 3-year low.

UK inflation fell to 2.3% in April, its lowest level in nearly three years, driven by lower gas and electricity prices. The Consumer Prices Index (CPI) rose by 2.3% in the year to April, down from 3.2% in the 12 months to March. The largest downward contributions to the monthly change in both CPIH and CPI annual rates were from falling gas and electricity prices. Economists had forecast an even bigger drop to 2.1%, and services inflation was higher than expected at 6% in the 12 months to April.

May 21, 2024
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