UK Inflation increases in April, Retail Inflation rises. | CountingPips Forex & Currency Trading Blog

May 13, 2008 - Forex Economic News

UK Inflation increases in April, Retail Inflation rises.

U.K. inflation increased more than expected in April according to data released today by National Statistics. The U.K.'s consumer price index increased by 0.8 percent in April following a March increase of 0.4 percent. The increase brought the annual rate of inflation to 3.0 percent for April after an annual rate of 2.5 percent in March. Economic forecasts had expected the April inflation increase to measure 0.5 percent and the annual rate to reach 2.6 percent. Increases in the prices of housing, household services, gas, heating oil and electricity contributed to the rising inflation.

U.K. retail prices also increased for the month of April. National Statistics reported today that retail price inflation gained by 0.9 percent in April following a March increase of 0.3 percent. The April annual rate increased to 4.2 percent from 3.8 percent in March and surpassed market forecasts expecting a 3.6 percent annual rate. Increases in the prices of housing, household services, gas, heating oil and electricity also contributed to the rising retail inflation results for April.

Tags: uk inflation, cpi, retail inflation, gbp, prices

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