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Inflation figures show fall

Inflation resumed its downward path in April with the headline rate hitting 3%.

The fall will come as a relief to the Bank of England after last month's unexpected rise in CPI inflation to 3.5% cast doubt on its projections.

The significant decline in April will also increase confidence in forecasts that inflation will return to the 2% target level in the coming months.

The retail prices index, which includes housing costs, fell from 3.6% to 3.5%.

The largest downward effects came from
furniture and furnishings and household textiles partially offset by an upward contribution from carpets and other floor coverings.

Source : James Reed – The Business Desk Yorkshire

22 May 2012
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