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- UK consumer price index rose less than expected in April
UK consumer price index rose less than expected in April
According to the report from Office for National Statistics, the Consumer Prices Index (CPI) 12-month rate was 2.1% in April 2019, up from 1.9% in March 2019. Economists had expected a 2.2% increase
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.0% in April 2019, up from 1.8% in March 2019.
Rising energy prices and air fares, which were influenced by the timing of Easter, produced the largest upward contributions to change in the rate between March and April 2019. The largest, offsetting, downward contribution came from across a range of recreational and cultural items, which included computer games and package holidays.
The headline rate of output inflation for goods leaving the factory gate was 2.1% on the year to April 2019, down from 2.2% in March 2019.
The growth rate of prices for materials and fuels used in the manufacturing process was 3.8% on the year to April 2019, up from 3.2% in March 2019.
All product groups provided upward contributions to output annual inflation. Crude oil provided the largest upward contribution to the annual rate of input inflation, increasing to 6.9% on the year.
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