London, May 19, (dpa-AFX/GNA) – British consumer price inflation accelerated more than expected in April on higher household utility and fuel prices, the Office for National Statistics said on Wednesday.
Consumer prices advanced 1.5 per cent year-on-year in April, more than double the March’s 0.7 per cent increase. Prices had been forecast to gain 1.4 per cent.
On a monthly basis, consumer price growth increased to 0.6 per cent from 0.3 per cent in March and in line with economists’ expectations.
Excluding volatile energy, food, alcoholic beverages and tobacco prices, core inflation rose moderately to 1.3 per cent from 1.1 per cent a month ago.
The annual rate also matched economists’ forecast.
Another report from ONS showed that output price inflation climbed to 3.9 per cent in April from 2.3 per cent a month ago. The expected rate was 3.5 per cent.
Month-on-month, output price inflation doubled to 0.4 per cent, as expected, from 0.8 per cent. At the same time, input prices grew 9.9 per cent on year, following a 6.4 per cent rise in the prior month. On a monthly basis, input prices gained 1.2 per cent versus a 1.9 per cent rise in March.
GNA