The data shows inflation is now closer towards the Bank of England’s 2% target.
It comes just a day after the IMF (International Monetary Fund) upgraded UK growth for this year and forecast the economy will grow faster than any other large European country over the next six years.
Meanwhile, food price inflation saw further falls over the year, although these were partially offset by a small uptick in petrol prices.
The state of Britain's economy looks set to be a major battlefield to win votes.
The timing of the announcement came as the Office for National Statistics confirmed inflation hit 2.3% today.
Mr Sunak hailed the figure as a "major moment for the economy" and vowed that vowed that "brighter days are ahead".
Consumer Prices Index (CPI) inflation stood at 2.3% in April according to fresh figures from the Office for National Statistics (ONS).
This is down from 3.2% in March and marks the lowest level since July 2021.
How the parties are fairing in the latest poll:
Labour 44 per cent
Conservatives 23 per cent
Reform 11 per cent
Lib Dems 10 percent
Prime Minister Rishi Sunak is poised to name July 4 as the date of the next general election.
The PM will battle for his political life as millions take to the polls at the height of British summer time.
As things stand, Sir Keir is on track for victory.
Labour is currently polling at 44 per cent, while the Tories are trailing behind on 23.