He United Kingdom Consumer Price Index (CPI) rose 2.3% annually in April after growing 3.2% in March, as published by the National Statistics Office. The figure exceeds the 2.1% expected by the market.
Monthly inflation increased 0.3% in April compared to 0.6% previously, above the estimated 0.2%.
The year-on-year core CPI stood at 3.9% in April after growing 4.2% in March, exceeding the 3.6% expected by experts.
pound sterling reaction
The British pound has reacted higher following higher-than-expected inflation data, as the Bank of England could delay the timing of the first interest rate cut. GBP/USD has shot up from 1.2710 to 1.2751, a new two-month high. At the time of writing, the pair is trading above 1.2750, gaining 0.32% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
