Inflation falls to lowest level in over a year

Inflation has eased back to its lowest level since March last year, but remained higher than expected as food prices continued to rise at a near record pace. The Office for National Statistics (ONS) said that Consumer Prices Index (CPI) inflation fell to 8.7% in April, down from 10.1% in March, as last year’s energy price hikes were not repeated. It marks the first time inflation has been in single digits since last August, but it was higher than forecast by economists, who had pencilled in a drop to 8.2% in April.