UK inflation hits 0.3% in first fall since September

The fall in inflation, as measured by the Consumer Price Index, is the first since September. Following the announcement, the FTSE 100 rose 0.64% to 9191 points, while the sterling rose 0.55% against the dollar to $1.4481. The ONS said the main reason for the drop in the rate this month was a 14.2% fall in air fares, compared with a rise of 4.5% between the same two months last year. The month also saw a drop in prices for clothing, vehicles, and social housing rent. However, the Bank of England said last week it expects inflation to increase in the second half of the year. I...