Inflation falls to 2.8%, but is expected to rise from here

The drop in inflation occurred despite the rise in fuel prices due to the Iran war. The average price of petrol was 156.8p per litre last month, according to the ONS, the highest since November 2022. Diesel prices rose by more than 30p in April to take the average price to 190p per litre, the highest average since July 2022.