The rate of inflation fell to 2.3 per cent in April from 3.2 per cent in March, the Office for National Statistics said, its lowet level since 2021.
In a boost for Rishi Sunak, the rate of inflation is now just 0.3 per cent away from the Bank of England’s 2 per cent target, having skyrocketed in the wake of Russia’s full-scale invasion of Ukraine.
A Treasury spokesman said: “We rightly protected millions of jobs during Covid and paid half of people’s energy bills after Putin’s invasion of Ukraine sent bills skyrocketing – but it wouldn’t be fair to leave future generations to pick up the tab.
“That’s why we must stick to the plan to get debt falling. The economy is turning a corner, with strong growth this quarter and inflation close to target, allowing us to cut taxes for the average worker by £900 a year.”
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