The U.K. has seen its inflation rate rise to 3.5% in April. This is higher than what many experts expected, according to a report from the Office for National Statistics (ONS).
Before this, the inflation rates were lower, with 2.8% in February and 2.6% in March.
Core inflation, which looks at prices of things like food and energy, went up by 3.8% in April. Housing, transport, and entertainment increased prices the most. However, clothing and shoes saw a drop in prices.
This rise in prices is putting more pressure on families. For example, energy prices went up by 6.7% and water bills increased by 26.1% in April.
Chancellor Rachel Reeves said she is “disappointed” by the news, as many people are still struggling financially.
The Bank of England is watching these changes closely. They recently cut interest rates but may change their plans if inflation continues to rise.
Despite this, some experts believe inflation will decrease over time, which could allow the bank to reduce rates further.
Vocabulary List:
- Inflation /ɪnˈfleɪ.ʃən/ (noun): The rate at which the general level of prices for goods and services is rising.
- Statistics /stəˈtɪs.tɪks/ (noun): The science of collecting analyzing and interpreting data.
- Core /kɔːr/ (adjective): Central or most important.
- Pressure /ˈprɛʃər/ (noun): The use of persuasion or intimidation to make someone do something.
- Chancellor /ˈtʃæn.sə.lər/ (noun): A senior state or legal official.
- Decrease /dɪˈkriːs/ (verb): To make or become smaller or less in amount degree or size.
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