UK inflation unexpectedly falls to 11-month low
Annual consumer price inflation eased to 2.4% from 2.5%, official figures showed. The April figure was the weakest since March 2017 and lower than economists' average forecast for inflation to hold steady at 2.5%.
The Office for National Statistics said air fares were the biggest contributor to April's fall due to the timing of Easter. That decline was partly offset by rising petrol prices.
Soft drinks had their biggest rise ever for the time of year, caused by the introduction of the sugar tax. But the ONS said many retailers still had not passed the cost on to shoppers.
Lower-than-forecast inflation gives the Bank of England further food for thought after its monetary policy committee held off on increasing interest rates in May. ■