UK inflation falls sharply to 8.7% in April

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16 minutes ago

The UK inflation rate has fallen sharply, reaching single figures for the first time since August.

Prices rose by 8.7% in the year to April, down from 10.1% in March, the Office for National Statistics (ONS) said.

The sharp drop is down to the fact energy price rises are slowing from the extreme hikes seen a year ago.

However, it does not mean prices are coming down, only that they are rising less quickly.