'It’s certainly encouraging to see inflation returning to its downward path'

Andrew Gething, managing director at MorganAsh:

“It’s certainly encouraging to see inflation returning to its downward path.

“It will be interesting to see how the Bank of England (BoE) reacts to this news when the Monetary Policy Committee next meets in April, with another rise already priced in by many of the markets.

“The percentages [of CPI and CPIH] are moving in the right direction, but just not fast enough for the most vulnerable of households.

“This will be a crucial time for lenders and brokers to ensure all borrowers are getting the advice and support they need. This all starts with monitoring vulnerability consistently.”