UK inflation came in way higher than expected in April, which undoubtedly puts pressure on the Bank of England to hike by another 25bp in June. UK inflation has come in higher than pretty much anyone, including members of the Bank of England's committee, expected in April. Headline inflation came in at 8.7%, higher than the 8.2% consensus. Core inflation picked up from 6.2% to 6.8%. This undoubtedly makes life harder for policymakers and no doubt raises the chance of yet another 25bp rate hike in June. Of course, April's headline figure was still much lower than it was in March. That's a well-telegraphed effect of ... (full story)