April 2023 inflation: Substantial easing of prices 

Inflation further eased to 6.6% in April 2023, driven by the decline in food, energy, and transport prices. This further confirms that a downward trend in inflation is expected moving forward in the absence of supply shocks. Given this, we have revised our inflation forecast for 2023 downwards from 6%-7% to 6%.

Check our latest inflation report and outlook for further details.