Higher household bills push UK inflation to 3.5%

Up from 2.6%

The UK Consumer Prices Index (CPI) rose by 3.5% in the 12 months to April, a significant increase from the 2.6% recorded for the year to March.

According to the Office for National Statistics, the largest contributors to the inflationary increase were household bills and services, transport and recreation and culture, while the biggest detractor, although partially offset, was clothing and footwear. BoE chief economist Huw Pill warns cutting UK interest rates too quickly has 'upside risks' Core inflation also rose by 3.8% over the same period, up from 3.4% a month prior – with the CPI goods rising from 0.6% to 1.7% and the CPI services from 4.7% to 5.4%. Chancellor Rachel Reeves shared disappointment at the higher-than-exp...