Inflation’s stubborn cumulative effect
April’s yearly inflation figure fell from 9% to 2.3%, so why does inflation still feel high? April’s Consumer Prices Index (CPI) showed annual inflation had fallen to 2.3%, its lowest level since July 2021 and significantly below the October 2022 peak of 11.1%. The Prime Minister, Rishi Sunak, celebrated the return to around 2% inflation […]