Cost of living crisis eases as inflation falls out of double digits
The cost of living crisis in the UK is easing, as indicated by a fall in inflation from 10.1% in March to 8.7% in April.
However, core inflation, which measures the rate of price changes excluding fuel and food prices, has risen from 6.2% to 6.8%, suggesting that inflation may be becoming embedded in the economy.
Despite this, inflation has fallen out of double digits for the first time since last summer, which could indicate that the worst of the cost of living crisis may be over.