Commenting on the latest figures, Danske Bank Chief Economist Conor Lambe said:
“UK inflation fell again in April. The CPI rate declined from 2.5 per cent in March to 2.4 per cent in April.
“After last week’s labour market data revealed a rise in the rate of regular pay growth for employees in Great Britain, today’s fall in inflation is a further sign that the squeeze on UK consumers is gradually easing.
“But inflation has further to fall before it returns to the Bank of England’s 2 per cent target rate and real wage growth, while back in positive territory, remains modest. The data is moving in the right direction for consumers, but the pressure on household budgets remains a constraining factor on the prospects for both the UK and Northern Ireland economies.”
