Friday, June 9, 2023

UK CPI eased to 8.7% in April

Annual inflation in Britain stood at 8.7% in April, up from 10.1% in March, according to the British Office for National Statistics (ONS).

The slowdown in prices in April was less than expected according to the consensus of analysts, who predicted an inflation rate of 8.2%.

The ONS analyzed the slowdown in the CPI annual rate reflecting the slope of the contribution of 16 twelfths, with the largest downward contribution coming from housing and domestic work, while the largest upward variation was observed in leisure and culture.

In the fourth month of 2023, the year-on-year rise in food and non-alcoholic beverages was 19%, just one-tenth below the rise of the previous month, while household supplies became 12.3% more expensive in the year. on the year, after a rise of 26.1% in March.

For its part, the core CPI, which excludes the volatility of energy, food, alcohol and tobacco prices, accelerated to 6.8% in April, six tenths more than in March and its highest level since March 1992. .

In monthly terms, prices registered an increase of 1.2% in the fourth month of the year, compared to a rise of 2.5% in March.

At the last meeting, the Bank of England’s Monetary Committee decided to raise the reference rate for its operations by 25 basis points, to 4.5%, to the highest level since autumn 2008, thus increasing the order of twelve consecutive meetings. value for money

In its analysis, the Bank of England indicated that it expects the inflation rate to “fall sharply in April”, partly as a result of the base effect due to the strong growth reported a year ago.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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