April inflation figures. Source: ONS
CPI inflation fell for the first time in six months in April from 2.8 per cent to 2.4 per cent, according to the Office for National Statistics.
The initial growth in inflation back in Autumn 2012 was due to the increase in tuition fees and inflation has remained relative steady since then.
The fall will be good news for the Bank of England which is aiming for a target of two per cent.
The largest downward contribution came from motor fuels and air fares while the only upward contribution came from food and non-alcoholic beverages.
Transport accounted for almost three quarters of the fall in inflation where prices fell by 0.6 per cent between March and April 2013. This compared to a rise of 1.2 per cent in the same period last year.
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Prices for petrol and diesel both fell as did the price of air fares which fell by 6.4 per cent compared to a rise of 7.4 per cent in the same period a year ago.
The ONS said downward movements in other sectors were "comparatively modest" compared to the transport sector.
Upward pressures came from food and non-alcoholic beverages where prices rose by 0.7 per cent compared to a fall of 0.1 per cent in the same period last year. This was mostly due to vegetables following the poor weather this year.
RPI inflation was 2.9 per cent in April, down from 3.3 per cent.
The next figure will be released on 18 June.
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