News / Press release / Economy

Inflation falls to 2.3% – our response

In the year to April 2024, inflation stood at 2.3%, according to the Office for National Statistics. This is down 0.9%, compared to March.

The inflation rate which considers housing costs was 3% in the year to March 2024, down 0.8% compared to the previous month’s figures.

Our response

Kate Nicholls, Chief Executive of UKHospitality, said: “Hospitality has weathered unprecedented costs, including from government policy.

“Today’s inflation data continues 18 months of improvement and we are now at a normal level of inflation.

“The trend is clear, and the Bank of England can now act with confidence. It’s time for interest rates to come down to support businesses investing in their growth.

“We should be ahead of the curve not behind it.”