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U.K. Inflation Unexpectedly Slows to 0.3%; Core Rate Drops

  • Consumer-price growth misses 0.5% pace forecast by economists
  • Air fares, clothing costs lowered inflation rate in April
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U.K. inflation unexpectedly slowed in April, highlighting the struggle Bank of England policy makers face to revive price growth.

The rate fell to 0.3 percent from 0.5 percent in March, driven lower by the cost of air fares and clothes, the Office for National Statistics said in London on Tuesday. Inflation hasn’t been lower since last year and the April reading was less than the 0.5 percent forecast by economists in a Bloomberg survey.