Member Article

Inflation drops to 2.4% in April

Inflation dropped from 2.8% to 2.4% in April according to the latest statistics released by the Office of National Statistics (ONS).

ONS said the most significant contribution came from transport costs, and most notably from motor fuels and air fare.

This is the first fall in inflation since September 2012, while the only considerable upward contribution came from food and non-alcoholic drinks prices.

ONS added that over the last six months, the Consumer Price Indices 12-month rate, which inflation is measured by, has been particularly stable.

The Office said: “CPIH, the new measure of consumer price inflation including owner occupiers’ housing costs, grew by 2.2% in the year to April 2013, down from 2.6% in March.

“The slower growth in CPIH than CPI is due principally to owner occupiers’ housing costs increasing more slowly than overall inflation for other consumer goods and services in the year to April.”

This was posted in Bdaily's Members' News section by Miranda Dobson .