India, May 22 -- UK consumer prices rose more than expected in April due to the stickiness of services inflation, which would possibly delay the timing of the first interest rate cut.
Consumer prices rose 2.3 percent on a yearly basis in April, slower than the 3.2 percent increase in March, the Office for National Statistics reported Wednesday.
The April inflation was the weakest since July 2021, when it was 2.0 percent. However, the rate was stronger than economists' forecast of 2.1 percent.
Core inflation that excludes energy, food, alcohol and tobacco, softened to 3.9 percent from 4.2 percent in March, but remained above the 3.6 percent forecast.
In response to the smaller-than-expected fall in inflation, the Bank of England will fir...