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The headline rate of retail price index inflation fell to 2.9% in April, from 3.3% in March, the Office for National Statistics said.
The underlying rate of retail price index inflation fell to 2.9% from 3.2% during the same period, the ONS added.
The rate of consumer price index inflation fell to 2.4% in April, from 2.8% in March, official figures showed today.
It is the first time inflation has slowed since Autumn 2012.
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A fall in inflation may prove to be merely temporary. But it is a welcome boost to the incoming Governor of the Bank of England Mark Carney.