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UK Inflation Falls to Over One-Year Low at 2.8% in April

GateNews

2026-05-20 06:43:32

According to the UK Office for National Statistics, consumer prices rose 2.8% year-on-year in April, falling from 3.3% in March and below economist and Bank of England forecasts of 3%. Service sector inflation, a key gauge of price pressures, reached 3.2%, the lowest level since January 2022. The decline was driven by favorable base effects and government efforts to reduce energy bills. Fuel costs surged 23% as U.S.-Israel military conflict continued to elevate UK oil prices; however, household bill reductions offset this increase as a policy shifted green energy costs from consumer bills to general taxation.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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