UK inflation sees one percent drop in April

The consumer prices index including owner occupiers’ housing costs (CPIH), meanwhile, saw a 1.1% drop in the annual figures between March and April – going from 8.9% to 7.8%. A big contributing factor was the 1.42 percentage point fall in electricity and gas prices, as last April’s rise dropped out of the annual comparison – but this component still contributed 1.01 percentage points to annual inflation.  

However, food and non-alcoholic drink prices continued to contribute to annual inflation, and – although easing slightly – remains at around 19% in the year to April 2023.  

In contrast to the rest of the figures, core CPI – excluding energy, food, alcohol and tobacco – rose by 6.8% in the 12 months to April 2023, making it the highest rate since March 1992, while CPI services annual rate rose from 6.6% to 6.9%. On the flip side, CPI goods annual rate eased significantly from 12.8% to 10%.