U.K. annual inflation slowed more than expected in April and reached the lowest since February 2010, data from the Office for National Statistics showed Tuesday.
Consumer price inflation fell to 3 percent from 3.5 percent in March. The figure was slightly below the expected rate of 3.1 percent. Nonetheless, inflation continues to stay above the 2 percent target.
At the same time, monthly inflation doubled to 0.6 percent from 0.3 percent in the previous month. The rate came in line with economists' expectation.
Retail price inflation eased marginally to 3.5 percent from 3.6 percent in March. The annual rate was last lower in December 2009.
Excluding mortgage interest payments, retail prices rose by 3.5 percent from a year ago, slower than the 3.7 percent rise seen in March.
by RTT Staff Writer
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