Most British household energy bills will fall from July after regulator Ofgem cut its domestic price cap by 7% largely due to a fall in wholesale energy prices.

The drop could help to further curb inflation which eased to 2.3% in April, its lowest level since July 2021 but still above the central bank's 2% target.

Ofgem's new cap of 1,568 pounds ($1,988.38) a year for average use of electricity and gas is down 122 pounds, or 7%, from the previous cap of 1,690 pounds and is at its lowest level since the winter of 2021/2022. ($1 = 0.7886 pounds) (Reporting by Susanna Twidale in London and Eva Mathews in Bengaluru; Editing by Sherry Jacob-Phillips and Philippa Fletcher)