Lower gas and electricity prices were the main driver behind the sharp inflation drop last month as a lower price cap - which fixes the maximum price that can be charged for each unit of energy - kicked in. Energy prices were 27% lower in April compared to 12 months before, with gas prices alone down 38%.

In April 2024, the UK's annual inflation rate of 2.3% was in line with many comparable economies, such as France, Germany and the US (all at 2.4%).

Food and non-alcoholic beverages Prices rose by 0.3% between March and April 2024, compared with a monthly rise of 1.4% a year ago.

And services inflation came in at 5.9% for April, down from 6% in March, according to official figures by the Office for National Statistics (ONS). Inflation has been on a downward trend since the 11.1% peak in CPI in October 2022.