Inflation remains at March’s level in April

Latest reading: Inflation came in at 0.9% in April, matching March’s reading. April's figure represented the join-weakest inflation rate since February 2021. Looking at the details of the release, softer price pressures for housing and utilities offset a stronger rise in food costs. The trend pointed down, with annual average inflation falling to 1.7% in April (March: 1.8%). Meanwhile, core inflation rose to 0.7% in April from the previous month's 0.5%. Finally, consumer prices dropped 0.31% in April over the previous month, a sharper drop than March's 0.08% fall. April's result marked the weakest reading since January.

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