Industry experts have cautioned clients to avoid assuming that the inflation spike is over following news this morning of a significant drop in CPI inflation in April.

CPI inflation has dropped significantly from 10.1% in March to 8.7% in April, latest figures from ONS released today show.

Four in five (83%) financial advisers say the high level of inflation is their clients main worry this year.

CPI inflation slowed slightly last month, falling to 10.1% in March from 10.4% in February on the back of lower petrol prices.