Inflation in Britain Falls to 8.7%

Data from the UK Office for National Statistics showed today, Wednesday, that consumer price inflation in the country fell to 8.7% in April from 10.1% in March. The core consumer price index, which excludes energy, food, alcoholic beverages, and tobacco prices, rose to 6.8%. Economists had predicted a decrease in the annual rate to 8.2% in April, marking a significant reduction from its highest level in 41 years, which was recorded in October at 11.1%. The Bank of England also anticipated this month that the inflation rate for April would be 8.4%.