UK inflation drops to 8.7% in April

Due to energy prices

Elliot Gulliver-Needham
clock • 2 min read

The UK inflation rate fell from 10.1% in March to 8.7% in April, driven by a drop in energy and gas prices.

However, core CPI, which excludes energy and food prices, rose from 6.2% to 6.8% last month, reaching the highest level in 30 years. After April 2022 saw energy prices spike by 47.5%, this has since dropped out of the year-on-year equation, leading the comparative inflation rate to naturally fall. Food inflation remained strong, at 19.1% in April, compared to 19.2% the month before, while service inflation saw a 1.6% month-on-month increase. Deep Dive: Bond managers must 'unlearn' the past decade of central bank lessons Markets are now pricing in two further interest rate hi...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot