UK inflation rockets in April, Reeves 'disappointed' by data
(Reuters) -Britain suffered a bigger-than-expected inflation surge in April, including in areas watched closely by the Bank of England which investors now believe will have to slow its already gradual pace of interest rate cuts. Inflation leapt to 3.5% in April from 2.6% in March, the Office for National Statistics said, the highest reading since January 2024 and the largest increase between two months since 2022 when inflation was rocketing above 10%. A Reuters poll of economists had pointed to a reading of 3.3% in consumer price inflation in April.
Reuters
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