Britain’s annual inflation rate charged upwards in April led by household energy and water bills, official data showed on Wednesday.
The Consumer Prices Index soared to 3.5 percent last month, up from 2.6 percent in March, the Office for National Statistics (ONS) said in a statement. Analysts’ consensus forecast had been for a jump to 3.3 percent.
At 3.5 percent, the headline rate was the highest since the beginning of 2024, the ONS noted.
Finance Minister Rachel Reeves expressed surprise in the numbers though a statement, saying “I am disappointed with these figures because I know cost of living pressures are still weighing down on working people.”
UK regulators allowed private companies to hike household bills from April, taking into account movements in oil and gas markets and indebted water providers.
“Gas and electricity bills rose… compared with sharp falls at the same time last year.”
Labour Prime Minister Sir Keir Starmer previously promised to reinvigorate the UK economy, saying “My changed Labour Party will get our economy growing across our country. We will power up Britain’s towns and cities. We will deliver growth wherever you’re from.”
Instead Labour’s tenure is now being defined by economic ineptitude.
Tory spokesman on the economy, Mel Stride, blamed left-wing “Labour’s economic mismanagement” for the surge in inflation, AFP reports.
“Families are paying the price for the Labour… choices,” he added, as businesses pass on higher costs to consumers.
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