Investors are bracing for an April surge in UK inflation that could test the Bank of England’s resolve in lowering interest rates this year.
Figures on Wednesday are expected to show annual consumer price inflation of 3.3 per cent last month, up from 2.6 per cent in March, according to economists polled by Reuters. The increase comes amid rises in employers’ national insurance contributions, utility bills and taxes, as well as the announcement of higher US import tariffs.
Services inflation, an indicator of domestic price pressures closely watched by the Bank of England, is forecast to rise to 4.9 per cent in April, from 4.7 per cent the previous month.
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