Reported about 9 hours ago
UK inflation unexpectedly rose to 3.5% in April, significantly higher than March's 2.6%, driven by a sharp increase in air fares during the Easter holiday. This surge is the highest since January 2024, prompting concerns over the economy and impacting expectations for interest rate cuts by the Bank of England. Finance Minister Rachel Reeves expressed disappointment over the figures, which suggest a reduced likelihood of rate reductions in the near future. The rise in service prices and overall inflation has raised questions about the future trajectory of the UK economy.
Source: YAHOO