The Consumer Price Index (CPI), a measure of inflation in the UK, rose to 3.5% year-on-year in April, according to data released by the Office for National Statistics (ONS) on Wednesday morning, May 21, compared to 2.6% in March. This exceeded expectations of 3.3%, marking the highest reading since February 2024.
On a monthly basis, the CPI rose by 1.2% in April, compared to a rise of approximately 0.3% in April 2024.
The core CPI, which excludes food, energy, alcohol, and tobacco prices, rose to 3.8% in April, up from 3.4%, exceeding analysts’ expectations.
The largest contributors to the rise in inflation in April came from the housing, household services, recreation, culture, transport, and culture sectors.