Inflation dropped to 2.8% in April, down from 3.3% in March in what was described as a ‘notable fall’ by the Office for National Statistics (ONS), but this does not mean prices overall are not rising, just at a slower rate.

The biggest factors in the drop were electricity and gas as prices were down nearly 10% in April due to the energy price cap, which was announced before the war broke out in late February.

The price of electricity was significantly down by 6%, the lowest price for at least the last 13 months, down massively from the 8% inflation hike between July and September last year.