UK Inflation Rises to 3.5% in April Amid Household Bill Increases
The UK's annual inflation rate increased to 3.5% in April, driven by higher household bills, according to the Office for National Statistics. This marks the highest rate in over a year and exceeds analyst expectations. Chancellor Rachel Reeves expressed disappointment, stating the government will take further action to ease the cost-of-living pressures. The Bank of England anticipates inflation to peak at 3.7% between July and September before returning to its 2% target.
The UK's annual inflation rate increased to 3.5% in April, driven by higher household bills, according to the Office for National Statistics. This marks the highest rate in over a year and exceeds analyst expectations. Chancellor Rachel Reeves expressed disappointment, stating the government will take further action to ease the cost-of-living pressures. The Bank of England anticipates inflation to peak at 3.7% between July and September before returning to its 2% target.
