Kevin Brown, savings specialist, comments today’s inflation figures from the ONS

A temporary reprieve for households ahead of ‘awful April’

"Some increase in inflationary pressures had been expected, with higher energy costs weighing on March’s figures. However, today’s data was below expectations, even if it remains above the 2% target. It may make the Monetary Policy Committee’s decision on interest rates a little easier when it meets in May.

 "It is likely to be a temporary reprieve for households, however unwanted April data brings a series of significant bill increases coming into effect – water, energy, broadband and council tax, among others. April also sees the introduction of National Insurance hikes for businesses, which may have an inflationary sting in its tail. While wage growth remains robust, a chunk of those wage rises look set to be lost in higher household expenses.

 "This is an uncertain moment – both for the UK economy and for household finances. The best way to feel less powerless in the face of rising bills is to build resilience into your finances. There is no substitute for regular saving to provide insulation against whatever the future may hold."