Lower gas and electricity bills behind UK inflation fall to 2.8%
The UK's inflation rate has fallen to 2.8%, primarily due to lower gas and electricity bills. Despite this drop, inflation is expected to rise again later in the year due to ongoing global conflicts affecting energy prices. The government is preparing additional cost of living support for households as fuel prices continue to increase.
- ▪The inflation rate decreased from 3.3% in March to 2.8% in April.
- ▪Lower energy prices contributed to the drop in inflation, aided by government support and lower wholesale prices.
- ▪Chancellor Rachel Reeves plans to announce further support for households in light of anticipated higher energy prices.
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Lower gas and electricity bills behind UK inflation fall to 2.8%10 minutes agoShareSaveAdd as preferred on GoogleRachel ClunBusiness reporterGetty ImagesLower gas and electricity bills were behind a bigger than expected drop in the UK's inflation rate, official figures show.The rate of inflation, which measures price rises over time, fell to 2.8% in the year to April, down from 3.3% in the year to March.Energy prices were lower due to the government's energy bill support package and lower wholesale energy prices before the Iran war, the Office for National Statistics (ONS) said.However, inflation is widely expected to rise through the rest of the year as the US-Israel war with Iran continues to impact the global prices.A lower rate of inflation does not mean prices are falling across the…
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