Have a go at this teaching activity, which includes a downloadable worksheet and suggested answers

Rate of inflation drops to 2.8% in April.

The UK's annual rate of inflation dropped from 3.3% in March. The main reason for the fall was lower household energy costs.

The lower rate of inflation saw prices rise more slowly than before. Nevertheless, petrol prices still rose by more than 30p per litre.

Food price inflation fell to 3% but the Food and Drink Federation warned that food price inflation could hit 10% by the end of the year.

Economists widely expect inflation to rise again, potentially reaching around 4% by the end of 2026.

The conflict in the Middle East is putting upward pressure on global energy and commodity prices, as well as the prices producers pay for raw materials and fuel. Higher production costs are likely to cause higher prices for consumers.

The Bank of England uses interest rates to work towards a target for inflation of 2%. However, much of the current inflation is driven by external factors such as rising global oil prices.