Inflation drops to 0.3% as air fares and clothing prices fall

Helen Knapman

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Today’s figures also reveal that the Retail Prices Index (RPI) rate of inflation, which unlike the CPI includes housing costs, stood at 1.3% in the year to April, down from 1.6% in March.

Inflation fell to 0.3% in the year to April, down from 0.5% in March – the first drop since September 2015.

The Office for National Statistics blames the decrease in the Consumer Prices Index (CPI) rate of inflation on the falling price of air fares, clothing, vehicles and social housing rent.

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Source Moneywise http://ift.tt/1TV7Xz2