UK consumer price inflation retreated to 2.8% in April, slipping below the 3% psychological barrier and marking a distinct deceleration from the 3.3% peak recorded in March.
The preliminary figures, compiled by the Office for National Statistics, came in slightly softer than the 3% consensus forecast, suggesting that domestic price pressures are continuing to moderate despite global volatility.
8%, highlights a growing split in the transatlantic inflation trajectory.
The cooling print reinforces the case for the Bank of England to proceed with its monetary policy normalization.
With inflation moving decisively toward the 2% target, the central bank faces less pressure to maintain restrictive borrowing costs, allowing markets to price in further rate reductions over the coming months.
The divergence from the hotter US print, where April inflation surged to 3.8%, highlights a growing split in the transatlantic inflation trajectory.
The April decline was driven by a broad-based easing in core price pressures, though underlying services inflation remains a sticky component for policymakers.