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U.K. consumer price inflation slowed
more than expected in April, to the lowest since September, data
Annual inflation fell to 2.4 percent from 2.8 percent in March, the Office for National Statistics said. Inflation was expected to ease to 2.6 percent. It has moved closer to the central bank's 2 percent target.
Month-on-month, consumer prices gained 0.2 percent, slightly weaker than the prior month's 0.3 percent increase and also below the 0.4 percent rise forecast by economists. Core inflation that excludes energy, food, alcoholic beverages and tobacco slowed to 2 percent from 2.4 percent a month ago. The rate was marginally below the consensus forecast of 2.3 percent.
CPIH, the new measure of consumer price inflation including owner occupiers' housing costs, grew 2.2 percent from a year ago, down from 2.6 percent in March.
At the same time, retail price inflation eased sharply to 2.9 percent in April, while it was forecast to fall to 3.1 percent.
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