- The UK CPI increased 1.5% year-on-year in April compared to the + 1.4% expected.
- The UK monthly CPI reached + 0.6% in April compared to the + 0.6% expected.
The 12-month rate of the UK CPI consumer price index stood at + 1.5% in April compared to + 0.7% in March, beating expectations for inflation of + 1.4%, the UK Office for National Statistics (ONS) reported on Wednesday.
In the meantime, the core inflation indicator (excluding volatile food and energy prices) increased by 1.3% year-on-year last month compared to the + 1.1% registered in March, the market equaling the forecast of + 1.3%.
Monthly figures showed UK consumer prices hit + 0.6% in April versus expectations of + 0.6% and + 0.3% seen the previous month.
Main points (via ONS):
- The largest upward contributions to the CPI 12-month inflation rate came from housing and domestic services (0.57 percentage points) and transportation (0.56 percentage points).
- Rising prices for household utilities, clothing, and motor fuel made the largest upward contributions to IPCH growth in April 2021; these were partially offset by a large downward contribution from recreation and culture.
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