Inflation fall is good news for new Bank governor

The fall in inflation will save Mark Carney a stamp as he gets his feet behind the top desk at the Bank of England. Photo: Sean Kilpatrick/The Canadian Press/Press Association Images

Like the spring that has still barely sprung, well into May, the economy is showing few signs of bursting into life.

So those of us who spend too much time studying its development may have felt their hearts skip a beat (or two) this morning at the news that inflation - scourge of wage-earners and savers - has fallen a touch.

Prices in April rose 2.4 per cent, down from 2.8 per cent the month before, and a better number than the experts predicted.

There are a number of reasons why: some statistical quirks and some real falls - for example lower petrol prices.

The likelihood is that this is a temporary slowing of inflation before it creeps higher again.

So it's good news for now and good news for one person in particular.

The Bank of England forecast last week that inflation would probably top 3 per cent in June - meaning that one of the first jobs for the new Governor, Mark Carney, would be to write an embarrassing letter in his first weeks in office to the Chancellor to explain why inflation was too high.

Today's news means he can probably save the stamp.