The UK’s inflation rate fell less than expected in April, with the closely watched core rate unexpectedly rising. According to data from the Office for National Statistics, consumer prices increased 8.7% compared to the same month a year earlier, down from March’s 10.1% on-year rise. Economists had expected inflation to decline to 8.2%. Core consumer prices, which excludes the volatile categories of food and energy, was 6.8%, compared with 6.2% in the prior month, and well above expectations of 6.1%. This indicates that the Bank of England may need to raise interest rates again to halt persistently high prices.
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