April CPI rose 2.8% year-over-year, below the 3.0% estimate, easing pressure on the Bank of England to hike rates further.
UK consumer prices increased 2.8% in April from a year earlier, below the 3.0% consensus forecast and down from March’s 3.3% print. Monthly CPI rose 0.7%, matching expectations but slowing from the prior 0.9% gain.
Core inflation also softened, climbing 2.5% year-over-year against a 2.6% estimate and down from 3.1% in March. On a monthly basis, core prices rose 0.7%, slightly below the 0.8% forecast.
The data suggests inflationary pressures may be easing faster than anticipated, potentially influencing the Bank of England’s policy outlook.