The CPI, which measures inflation in the United Kingdom, rose to 9% on an annual basis in April, compared to 7% in the March reading, less than expectations, which indicated a rise to 9.1, marking the highest reading in the series that began with national statistics in January 1997.

On a monthly basis, the consumer price index rose by 2.5% in April, compared to an increase of about 0.6% in April 2021.

The main index, excluding food and energy prices, rose to 6.2% in April from 5.7%, in line with analyst expectations.

In the details of the index, the largest contribution to inflation in April came from the housing and household services sector, with an increase of about 1.27%, and the growth of restaurant and hotel prices by 0.11%, and the rise in entertainment and culture prices by 0.10%.

The British pound is trading down at 1.2430 levels, affected by the rise in the US dollar this morning