The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.0% in the 12 months to April 2026, down from 3.4% in the 12 months to March. On a monthly basis, CPIH rose by 0.8% in April 2026, compared with a rise of 1.2% in April 2025.
The Consumer Prices Index (CPI) rose by 2.8% in the 12 months to April 2026, down from 3.3% in the 12 months to March. On a monthly basis, CPI rose by 0.7% in April 2026, compared with a rise of 1.2% in April 2025.
Housing and household services made the largest downward contribution to the monthly change in both CPIH and CPI annual rates; an upward contribution from a large increase in motor fuel prices was counteracted by downward effects from other categories in the transport division.
Core CPIH (CPIH excluding energy, food, alcohol and tobacco) rose by 2.8% in the 12 months to April 2026, down from 3.3% in the 12 months to March; the CPIH goods annual rate rose from 2.1% to 2.4%, while the CPIH services annual rate fell from 4.3% to 3.4%.
Core CPI (CPI excluding energy, food, alcohol and tobacco) rose by 2.5% in the 12 months to April 2026, down from 3.1% in the 12 months to March; the CPI goods annual rate rose from 2.1% to 2.4%, while the CPI services annual rate fell from 4.5% to 3.2%.
In my opinion, the most interesting aspect of this data is the downward contribution from housing and household services, particularly electricity and gas. This is a significant shift, as it indicates a potential easing of pressure on household budgets, which could have broader implications for consumer spending and economic growth. However, it's important to note that this is just one data point and may not be indicative of long-term trends.
The data also highlights the impact of global energy prices on inflation, with the Ofgem price cap falling due to reduced wholesale energy prices. This could have a positive effect on household budgets, but it's worth considering the potential for future increases in energy prices, which could offset any gains.
Overall, this data provides a snapshot of inflation trends in the UK, but it's important to interpret it in the context of broader economic factors and potential future developments.
