Annual inflation in the United Kingdom climbed to 3.5% in April, surpassing analyst predictions, as reported by the Office for National Statistics (ONS) on Wednesday. Economists surveyed by Reuters had expected the consumer price index to rise to 3.3% over the year leading to April.
This comes amid a period of waning inflation, evident in the deceleration to 2.8% in February and further down to 2.6% in March. Nonetheless, core inflation—which excludes the more erratic prices of energy, food, alcohol, and tobacco—accelerated to 3.8% in April, up from March’s 3.4% increase.
According to the ONS press release, significant drivers of the inflation rate included housing and household services, transport, and the recreation and culture sectors. In contrast, clothing and footwear recorded the most substantial downward pull, offsetting some inflationary pressures.
The latest figures underscore intensifying economic burdens on British households, notably owing to a 6.7% increase in electricity, gas, and other fuel prices over the year. Moreover, water and sewerage charges experienced a sharp rise of 26.1% in April alone, marking the most significant monthly increase since at least February 1988.
