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Inflation continues to trend downwards but remains well above the norm

Inflation continues to trend downwards but remains well above the norm

Tuesday 23 April 2024

Inflation continues to trend downwards but remains well above the norm

Tuesday 23 April 2024


Inflation has fallen for the fifth consecutive quarter but still remains well above historic norms.

RPI now stands at 5.8% having been at a high of 8.5% in December 2022 and being 8.3% last March.

Most major economies target a 2% figure.

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Stripping out the influence of mortgage payments, the annual change was 5%.

Housing costs are the biggest driver of inflation, rising by 10.9% in the year.

Food costs are up by 3.9%, fuel and light by 7.6%.

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