UK inflation posts surprise fall to 3% in April

Inflation in the UK dropped in April, beating the consensus forecast.

The UK Consumer Prices Index (CPI) fell from 3.5% in March to 3%, lower than the 3.1% analysts had expected. Retail Prices Index inflation eased from 3.6% to 3.5%, against a 3.4% consensus forecast. The Office for National Statistics (ONS) said the the timing of Easter had a significant impact on the April data. "Air transport, off-sales of alcohol, clothing and sea transport were the most significant drivers behind the decrease in annual inflation between March and April. "Partially offsetting these were smaller upward pressures from the operation of personal transport equipment, ...