UK inflation slows to 2.8% as energy price cap softens impact of rising fuel costs
Lower than expected April annual rate a lift for Rachel Reeves as impact of Iran war yet to fully hit households
UK inflation slowed to 2.8% in April, the lowest rate in more than a year, as a reduction in the household energy price cap helped soften the sharp rise in fuel costs since the start of the Iran war.
The Office for National Statistics (ONS) said the consumer prices index measure of inflation eased from March’s reading of 3.3%, suggesting the impact of the Iran war has not yet hit UK households as much as feared, despite prices at the pumps rising at the fastest rate in nearly four years.
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