UK inflation rises more than expected in April

(Sharecast News) - UK inflation rose more than expected in April as household bills increased, according to figures released on Wednesday by the Office for National Statistics. Consumer price inflation rose to 3.5% from 2.6% in March, hitting its highest level since January 2024. Economists were expecting a jump to 3.3%.

ONS director general Grant Fitzner said: "Significant increases in household bills caused inflation to climb steeply.

"Gas and electricity bills rose this month compared with sharp falls at the same time last year due to changes to the Ofgem energy price cap.

"Water and sewerage bills also rose strongly this year, as did vehicle excise duty, which all pushed the headline rate up to its highest level since the beginning of last year."