British consumer prices rose by 2.3% in annual terms in April, slowing from a 3.2% increase in March, the Office for National Statistics (ONS) said on Wednesday. The ONS data showed that the Consumer Prices Index (CPI) rose by 0.6% month-on-month in April, after a 1.1% increase in March. The Bank of England and economists polled by Reuters had forecast an annual rate of 2.1%. The slowdown in inflation was driven by a fall in the cost of food and non-alcoholic beverages, which offset rises in the cost of transport and clothing. Food and non-alcoholic beverage prices fell by 0.1% in April, after rising by 1.2% in March. The cost of transport rose by 0.8% in April, after falling by 0.2% in March. Clothing and footwear prices rose by 1.8% in April, after rising by 1.2% in March. The ONS said that the annual inflation rate for food and non-alcoholic beverages was 0.9% in April, down from 1.5% in March. The annual inflation rate for transport was 3.4% in April, up from 3.3% in March. The annual inflation rate for clothing and footwear was 4.4% in April, up from 3.8% in March. The Bank of England has a target of keeping inflation at 2%. The Bank has said that it expects inflation to rise above 2% in the coming months, but that it will fall back to 2% in the medium term.
UK Inflation Rate Slows to 2.3% in April
