Latest news with #CityAnalysts
The Guardian
21-05-2025
- Business
- The Guardian
UK inflation jumps higher than expected to 3.5% amid bills increase
Inflation jumped in April by more than expected to 3.5% after dramatic increases in water bills, energy costs and council tax, according to official figures. A rise in employer national insurance contributions and a boost to the national minimum wage also put pressure on companies to raise prices last month by more than City analysts had forecast. The Office for National Statistics said the rise in the consumer prices index came after a decline over the first months of the year to 2.6% in March. Calls for deeper interest rate cuts are likely to be rebuffed by the Bank of England after the growth in prices proved to be stronger than financial markets expected. A poll of City economists had forecast a rise of 3.3% in April, while the central bank expected last month's inflation rate to hit 3.4%. Officials at the Bank cut interest rates by a quarter point to 4.25% at their last meeting on 8 May but the vote by the nine-member monetary policy committee was split three ways, with two members voting to keep rates on hold while another two supported a half-point reduction. More details soon …
Times
16-05-2025
- Business
- Times
UK inflation rate set to leap after bill rises in April
Inflation is on track to accelerate by the quickest pace in two and a half years, figures next week are expected to show, driven upwards by a range of rising household bills. City analysts think that data published next Wednesday by the Office for National Statistics (ONS) will reveal that inflation climbed to as high as 3.6 per cent in April from 2.6 per cent in the previous month. This would be the steepest rate since January 2024 and would represent the largest month-on-month percentage point increase since October 2022. Inflation is also expected to hover around 3 per cent for the rest of the year, kept elevated by strong wage growth, rises in payroll taxes and higher energy bills. It comes after Ofgem, the
