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5/24/2023, 8:03 AM (Source: TeleTrader)
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UK's inflation down to 8.7% in April

The annual inflation in the United Kingdom came in at 8.7% in April, down from March's 10.1% but slightly higher than projected, the Office for National Statistics (ONS) revealed in its report published on Wednesday. On a monthly basis, the figure went up by 1.2%.

The Consumer Prices Index including owner occupiers' housing costs (CPIH) jumped by 7.8% year-on-year, improving from March's 8.9%. Month-on-month, it grew by 1.2%. The Consumer Price Index (CPI) excluding food, energy, alcohol and tobacco observed an annual increase of 6.8%, advancing from the 6.2% registered the previous month and reaching its highest rate since March 1992.

"The easing in the annual inflation rate in April 2023 mainly reflected price changes in the housing and household services division, particularly for gas and electricity. This was offset partially by upward effects coming from recreation and culture, alcoholic beverages and tobacco, communication, and transport," the report concluded.

Baha Breaking News (BBN) / JR