UK inflation eases less than expected, raising possibility of more rate hikes. April’s consumer prices rose by 8.7%, down from 10.1% in March but still highest among G7 countries. Economists anticipated a drop to 8.2%, further from October’s 41-year high. The Bank of England (BoE) projected 8.4% inflation for April. Bond prices dropped as investors bet on multiple rate hikes by year-end.
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Summary
Article Name
UK Inflation Falls Below Expectations, Pressuring BoE
Description
UK inflation eases less than expected, raising possibility of more rate hikes.
Author
Susan Jane
Publisher Name
Reuters
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