UK consumer price inflation slowed less than expected in April and the core rate accelerated unexpectedly to a 31-year high, strengthening the case for another interest rate hike from the Bank of England in June.
The consumer price index, or CPI, registered an annual increase of 8.7 percent in April after a 10.1 percent gain in March, the Office for National Statistics reported Wednesday.
Although inflation eased from April, the rate was above economists' forecast of 8.3 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.