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Inflation down to 2.4% in April

Inflation fell from 2.8% to 2.4% in April, according to the latest government data.

It is the first time that the growth in inflation has slowed since last Autumn.

Officials said the largest downward contribution came from transport costs, notably motor fuels and air fares.

The only notable upward contribution came from price movements for food and non-alcoholic drinks.

Inflation as measured by the Consumer Prices Index (CPI) has been running above its 2% target for the past four years but the Bank of England believes it will rise further to around 3% during 2013. The Bank expects inflation then to ease back and return to target in 2014.

Source : James Graham – The Business Desk Yorkshire

21 May 2013
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