Figures released this morning have revealed UK inflation dropped to 2.8% in April, its lowest level in 14 months.
The data from the Office for National Statistics (ONS) showed petrol price inflation in isolation reached its highest level since 2022 at 23% in April - up from 4.9% in March.
That, The Times reports, was countered by government efforts to improve affordability by lowering energy bills.
The latest statistics show annual consumer prices fell back from the 3.3% March figure, falling below the 3% which had been predicted by expert analysts.
ONS Chief Economist Grant Fitzner said “There was a notable fall in annual inflation led by lower electricity and gas prices.
"This was due to the government’s energy bill support package reducing variable and fixed tariffs, along with lower global wholesale energy prices before the conflict in the Middle East, which fed through to the reduction in the Ofgem cap.
“These were only partially offset by a further increase in petrol and diesel prices, and an uptick in the cost of clothing and footwear.
"The annual cost of both raw materials and goods leaving factories continued to rise, driven again by higher crude oil and petrol prices.”