UK Inflation Jumps in April, Raising Prospect of BoE Rate Cut Delay

Britain suffered a bigger-than-expected inflation surge in April, prompting investors to bet on the Bank of England slowing its already gradual pace of interest rate cuts.

The annual inflation rate hit 3.5% in April, its highest reading since January 2024. The increase from 2.6% in March was the largest between two months since 2022 when price growth was rocketing above 10%.

A jump in air fares over the Easter holiday was a driver of the sharp climb...

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