The UK inflation rate has dropped below 10% for the first time in eight months.

The rate at which prices rose in April compared to a year ago was 8.7%, according to figures released by the Office for National Statistics. The inflation rate dropped from 10.1% in March but forecasters had expected an April figure closer to 8%. Food inflation is 19.1%.

Although the headline rate of inflation has fallen significantly, it is still high because the government's target for inflation is 2%.

Chancellor Jeremy Hunt told the BBC: "The fact that they have come down markedly - the headline rate - of course is welcome news, but there are things underneath those numbers which show that this battle is far from over. We've got a long way to go."

Tim Watkins, managing partner at Cheltenham-based accountants Randall & Payne, said: "It's good to see inflation below 10% at last. We were told it would fall quickly over the course of the year so hopefully that will be the case.

"As has been said in the press though, this doesn't mean prices are falling, they are just going up more slowly, so the challenges for business and individuals haven't gone away.

"Like other businesses we have looked at our costs and processes looking particularly at waste elimination and efficiencies.

"Inflation has a significant impact on us all and when it rears its head it's testing and is particularly so now, with all the other challenges we face, which is why we are running a free seminar next month to share practical advice about organisational resilience."