Big drop in UK inflation rate disguises more disappointing details

Service sector inflation, monitored closely by Bank of England, barely budged in April

• UK inflation falls by less than expected to 2.3%
• Which goods and services have changed most in price?

The annual inflation rate fell sharply in April. Prices are rising more slowly than at any time in almost three years. Inflation is lower in the UK than it is in the EU.

Even so, the latest bulletin on the cost of living from the Office for National Statistics was mildly disappointing. April's inflation figure was always going to be good, with a sharp fall guaranteed by the fact the energy price increases of a year earlier were not repeated.