UK Inflation Hits 15-Month High in April
(MENAFN) UK inflation climbed to 3.5% in April, marking its highest level since early 2023, according to data released Wednesday by the Office for National Statistics (ONS).
This increase follows a 2.6% rise in March and surpassed analysts’ expectations of a 3.3% jump for the month.
The main drivers of the inflation spike were housing and utilities, which rose 7.8%, alongside electricity at 4.6% and gas prices soaring by 12.2%.
In contrast, actual rents for housing contributed slightly to easing inflationary pressure, increasing by 6.3%, which is slower than March’s 7.2% rise.
According to the ONS, prices rose by 1.2% on a monthly basis in April—up sharply from 0.3% the previous month.
This monthly figure also came in higher than the projected 1.1% increase.
Core inflation, which strips out volatile items like energy, food, alcohol, and tobacco, climbed to 3.8% in April, compared to 3.4% in March.
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