Inflation fell sharply last month to the lowest level in nearly three years.
It declined to 2.3 per cent in the year to April, down from 3.2 per cent in the previous month, the Office for National Statistics said. However, City analysts and the Bank of England had forecast 2.1 per cent.
Before the figure had been published, there had been uncertainty about whether the Bank would begin cutting interest rates at its June or August meetings; after publication, analysts were leaning towards the latter.
A decision to keep interest rates on hold in June would mean there will be no pre-election monetary easing ahead of the vote which will be held on July 4. The Bank’s next Monetary Policy Committee will be in August,
