Falling gas and electricity prices have brought UK inflation to its lowest level in nearly three years.
Prices increased by 2.3% in the year to April, down from 3.2% the previous month, according to government figures.
While inflation, which measures the price of goods over time, has declined further, it is still more than the Bank of England’s objective of 2% and slightly higher than experts predicted.
However, the Bank has signaled that interest rates, which have been hiked in recent years to restrain inflation, may be reduced this summer. Rates are currently at 5.25%, their highest level in 16 years.
In April, energy prices were 27% lower than a year earlier, with gas prices alone down 38%.
