British inflation slides in April

22nd May 2012, Comments 0 comments

British inflation fell sharply in April, reaching the lowest level for more than two years, official data showed on Tuesday.

The 12-month inflation rate dropped to 3.0 percent last month from 3.5 percent in March -- reaching the lowest level since February 2010 -- on lower transport, clothing and food costs, the Office for National Statistics said.

Analysts had forecast a slowdown to 3.1 percent, according to a survey by Dow Jones Newswires.

The annual drop was helped by a slowdown in airfare rises. April's data covers the Easter holiday period which saw many Britons take holidays abroad.

The Consumer Prices Index (CPI) rose by 0.6 percent in April on a month-on-month basis, matching expectations, added the statistics office.

© 2012 AFP

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