Chancellor George Osborne updated ministers on the inflation figures at this morning's meeting of Cabinet at 10 Downing Street.
A Number 10 spokeswoman said: "The Chancellor set out the fact that inflation has fallen by one-third since September and most market commentators expect inflation to continue falling later this year, which will provide some relief for families' budgets."
More top news
Ex-Dragon's Den star Doug Richard has pleaded not guilty to a string of child sex charges after appearing before the Old Bailey.
The independent child sexual abuse inquiry has named the first institutions facing investigation - including local councils and the Church.
The Queen has paid tribute to both her husband and son in her opening speech at this year's Commonwealth summit.