UK rate of inflation fell sharply in April

The UK rate of inflation fell to 8.7% in April from 10.1% in March, according to the latest data from the Office of National Statistics (ONS).

The fall has been attributed to energy price rises slowing from their hikes in 2022.

The rate at which grocery prices rose slowed marginally in the year to April, but at 19.1% is close to record highs.

The ONS said that while food price inflation was still close to its recent peak, the prices of staples like bread, cereal, fish, milk and eggs were rising slightly less quickly.

Chancellor Jeremy Hunt said:

'The IMF said yesterday we've acted decisively to tackle inflation but although it is positive that it is now in single digits, food prices are still rising too fast.

'So, as well as helping families with around £3,000 of cost-of-living support this year and last, we must stick resolutely to the plan to get inflation down.'

Internet link: ONS

cashflow-logo.jpg freeagent-logo.jpg quickbooks-logo.png xero-logo.png

Address

Bell Ogilvy, 36 King Street, Castle Douglas, Dumfries & Galloway DG7 1AF

Contact us today!

01556 502377

© 2024 Bell Ogilvy Chartered Accountants. All rights reserved. powered by totalSOLUTION

In accordance with the disclosure requirements of the Services Regulations 2009 our professional indemnity insurer is Brunel Professional Risks Limited, St Thomas Court, Thomas Lane, Bristol BS1 6JG.
The territorial coverage is worldwide (excluding professional business carried out from an office in the United States of America or Canada) and excludes any action for a claim brought in any court in the United States of America or Canada.
We use cookies on this website, you can find more information about cookies here.