British consumer price inflation more than doubles to 1.5% in April

19.05.2021 - Evdokimov Roman
British consumer price inflation more than doubles to 1.5% in April

British consumer price inflation in April ballooned to more than double in the previous reading. The bank of England was hopeful that the hike will be temporary as the economy recovers from last year’s coronavirus drag.

Based on the official data released by the Office for National Statistics, consumer prices jumped 1.5% in April after a 0.7% hike in March. The inflation went up as regulated electricity and gas bills rose, along with clothing and footwear prices.

Inflation is expected to increase further in the next months, reflecting a move underway in the United States as the global economy picks itself up after the COVID-19 pandemic.

Core inflation, which excludes energy prices and other volatile items, increased by 1.3% year-on-year in April, the Office for National Statistics furthered.

The BoE is positive that inflation will then lower back to 2% in 2022 and 2023.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?