UK Inflation Strengthens Call For June Rate Hike

UK consumer price inflation slowed less than expected in April and the core rate accelerated unexpectedly to a 31-year high, strengthening the case for another interest rate hike from the Bank of England in June. The consumer price index, or CPI, registered an annual increase of 8.7 percent in April after a 10.1 percent gain in March, the Office for National Statistics reported Wednesday.

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