"Falls in gas and electricity bills account for two thirds of the dip in annual inflation between March and April," Abbey's chief economist Barry Naisbitt said.
"The Bank of England's February Inflation Report showed that further falls in annual inflation are expected as the year progresses, reflecting to a large degree an unwinding of the effects of the rapid rise in oil prices last year."
But a new report from the Alliance Trust shows that the rate of inflation facing the over-75s still stands considerably above the headline rate - at four per cent. It did decline by 0.7 per cent during the month however, the Alliance Trust said.
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