The consumer prices index (CPI) measure of inflation fell to 5% in the 12 months to March, the lowest level in nearly two years and down from 6% in the year to February.
The rate of inflation in the US is now less than half that of the UK. Latest official figures showed the speed of price rises in the UK accelerated to 10.4%.
Inflation is also lower than the UK in the 20 countries which have the euro as currency. Here, inflation dropped for the fifth month in a row – to 8.5% in February.
