UK inflation slowed to the lowest since 2016 in April and factory gate inflation turned negative for the first time since mid-2016 as the coronavirus lockdown has weighed on global oil prices, data from the Office for National Statistics showed Wednesday.
Consumer price inflation eased to 0.8 percent in April from 1.5 percent in March. Economists had forecast the rate to ease to 0.9 percent. The latest rate was the lowest since August 2016.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.