CPI inflation dips to 4% in March

The fall in the consumer price index (CPI) is the first for eight months and marks a drop from the 28-month high of 4.4% in February. Jeremy Cook, chief economist at World First foreign exchange, says March's lower inflation figure leaves "no illusion" of an interest rate rise before August. By far the largest downward pressure to the change in CPI came from food and non-alcoholic beverages, where prices fell by 1.4% between February and March this year. Sterling dropped as much as 0.5% against the dollar on the news. It was at $1.6249 as of 9:33am in London, down 0.6% from yesterd...