UK 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.
Insights by Ground AI
Does this summary seem wrong?
0 Articles
0 Articles
All
Left
Center
Right
Coverage Details
Total News Sources0
Leaning Left1Leaning Right1Center2Last Updated2 months agoBias Distribution50% Center