UK Inflation Rises To 3.5%

(RTTNews) - UK consumer price inflation accelerated more than expected in April, data from the Office for National Statistics showed on Wednesday.

The consumer price index rose 3.5 percent year-on-year in April, faster than the 2.6 percent increase in March. Inflation was expected to rise to 3.3 percent.

On a monthly basis, the CPI advanced at a faster pace of 1.2 percent after rising 0.3 percent in March. This was also faster than the forecast of 1.1 percent.

Core inflation that excludes prices of energy, food, alcohol and tobacco, rose to 3.8 percent from 3.4 percent in March.

Prices of goods grew 1.7 percent annually after rising 0.6 percent. Likewise, services inflation rose to 5.4 percent from 4.7 percent.