UK inflation dipped to 8.7 per cent in the 12 months to April as the measure of price rises finally slips out of double digit figures, it was revealed today.
The figure is down from the 10.1 per cent that was recorded in March, according to the Office for National Statistic (ONS), but it's still higher than forecast by economists, who had pencilled in a drop to 8.2 per cent in April. It's the first time inflation has dropped below double digits since August last year.
The ONS said today the decline in inflation was driven by gas and electricity costs remaining stable in April. However even though inflation is going down, prices are still going up, just at a marginally slower rate.
