UK inflation falls to 3% in April
The UK consumer prices index fell to 3% in April according to figures released by the Office for National Statistics.
The ONS said the timing of Easter had a significant impact on the April data and that the fall was largely a result of declines in the prices of air and sea transport, alcohol and clothing. Partially offsetting these were smaller upward pressures from the operation of personal transport equipment, restaurants, hotels and rents
The broader retail prices index stood at 3.5% in April down from 3.6% in March. The main downward pressures in the month came from alcoholic drinks, clothing, travel fares and the purchase of motor vehicles.
The CPI decline from 3.5% in March will come as a relief to Bank of England governor Mervyn King who will not be forced to write a tenth consecutive letter to the chancellor explaining why inflation is so high.
Inflation has fallen significantly since its high of 5.2% in September 2011 but still remains above the Bank of England’s target of 2%.
