US EditionUK inflation falls less than expected, dashing rate hopes
- Inflation in Britain decreased less than anticipated in April with a key core measure barely dropping, impacting bets on a rate cut that might have benefitted Prime Minister Rishi Sunak before an upcoming election.
- UK consumer prices rose by 2.3%, significantly lower than the prior month, contrary to expectations from the Bank of England and economists, who anticipated a larger decline to 2.1%.
- Following the inflation data release, investors reduced the probability of a Bank of England rate cut in June from 50% to 18%, as services inflation exceeded expectations and petrol prices rose.
5 Articles
5 Articles
Money blog: Two banks paying new customers to join; what now for mortgages after election announcement?
The new energy price cap has been announced, and it means average bills will fall by more than £100 from July. Read about this and the rest of today's consumer and personal finance news - and leave a comment - in the Money blog below.
Nvidia Earnings Preview, UK Inflation Figures Tempers Rate Cut Bets | Daybreak: Europe 05/22/2024
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show with Tom Mackenzie, we looked at Nvidia's upcoming earnings, the growing divergence between the Fed and ECB, plus UK inflation. (Source: Bloomb…
UK inflation falls less than expected, dashing rate hopes
Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election this year.
UK inflation pressure stays hot, dashing hopes for June rate cut
By Andy Bruce and Suban Abdulla LONDON (Reuters) -Inflation in Britain eased less than expected and a key core measure of prices barely dropped, prompting investors to pull bets on a Bank of England rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election. The consumer price index (CPI) rose by 2.3% in the 12 months to April, down sharply from March’s 3.2% increase and its lowest since July 2021, the O…
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