Quilter Investors

Industry argues Inflation fall means Bank of England has 'clear path' to cut interest rates

ONS finds poor weather dampened consumer spending

CPI falls to higher than expected 2.3% in April

Three-month figure remains negative at 0.1%

UK economy shrank for two consecutive quarters following 0.1% contraction in Q3

Economy weaker than forecast due to a decline in services

Core inflation saw a slight annual decline to 6.7%, driven by a drop in food and beverage prices

UK inflation remains 'outlier' compared to developed economies

ONS attributes unchanged rates due to increased costs in air travel

UK economy avoids recession but still vulnerable to further inflationary pressures