Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK inflation hit an annual rate of 9.0% in April, jumping two full percentage points from the 7.0% pace recorded in March, according to data released by the Office for National Statistics on Wednesday. Electricity and gas prices provided the biggest upward contribution to CPI, after the rise in the energy price cap took effect in April. Electricity prices added 0.67 percentage points to the change in CPI, while gas prices added 0.86 percentage points.
The surge in prices takes UK inflation above the prevailing measure in other developed countries. Eurozone inflation hit an annual rate of 7.5% last month, while U.S. inflation rose to 8.3%. It leaves CPI well above the Bank of England's 2% price target, although it comes in largely in line with their recent April forecast.
RPI surged to 11.1% last month, from 9.0% in March, the highest since January 1982. RPIX jumped to an annual rate of 11.2% from 9.1% the previous month.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.