UK inflation is set to have eased last month as a drop in household energy bills offset a jump in fuel prices but experts warned of turbulence ahead as the Iran energy price shock “catches up” with the cost of living. Some economists think the rate of Consumer Price Index (CPI) inflation slowed to 3% in April, from 3.3% in March. This would mean that prices were still rising year on year but at a slower rate than they were the month before. A big driver of the expected slowdown is set to come from Ofgem lowering its energy price cap from the start of April by 7%, or £10 a month, for the average household using both electricity and gas. This was largely driven by Government measures to reduce bills including moving 75% of the cost of the UK’s renewables obligation from household bills on to general taxation, and scrapping the energy company obligation scheme.…