LONDON, May 22 (Xinhua) — The Consumer Prices Index (CPI) of the United Kingdom rose by 2.3 percent in the 12 months to April 2024, down from 3.2 percent in March, showed official data released on Wednesday.
“The annual rate in April 2024 was the lowest since July 2021, when it was two percent,” said the Office for National Statistics (ONS).
The large fall in annual inflation was led by lower electricity and gas prices, due to the reduction in the energy price cap, said Grant Fitzner, Chief Economist of the ONS.
“Tobacco prices also helped pull down the rate, with no duty changes announced in the budget. Meanwhile, food price inflation saw further falls over the year. These falls were partially offset by a small uptick in petrol prices,” Fitzner noted.
Core CPI, which excludes energy, food, alcohol and tobacco, rose by 3.9 percent in the 12 months to April 2024, down from 4.2 percent in March.
The CPI services annual rate, closely monitored by the Bank of England, eased slightly from 6.0 percent to 5.9 percent, read the data.
