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  • Consumer price inflation, UK: April 2024

    From ons.gov.uk

    The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 3.0% in the 12 months to April 2024, down from 3.8% in the 12 months to March. On a monthly basis, CPIH rose by 0.5% in April 2024, compared with a rise of 1.2% in April 2023. The Consumer Prices Index (CPI) rose by 2.3% in the 12 months to April 2024, down from 3.2% in the 12 months to March. On a monthly basis, CPI rose by 0.3% in April 2024, compared with a rise of 1.2% in April 2023. Falling gas and electricity prices resulted in the largest downward contributions to the monthly change in both CPIH and CPI annual rates, while the ... (full story)

Congratulations BoE. CPI is at your 2% target. Well done
CPI has returned to almost 4%, and PPI has increased by 0.6% month-over-month again. All readings are higher than expected, indicating a concerning economic situation.

Public sector borrowing has exceeded expectations, surging by 7 billion. This suggests that individuals are relying heavily on credit, while inflation continues to rise.

Unfortunately, there are no positive economic indicators for the UK at this time.

The sole reason CPI is at 2.3% is due to energy, specifically as a result of tariff locks.
Shame this mirage of measure isn't actually a reflection of reality.

Nothing of any good faces the UK population on the horizon of a debt economy. An island that imports inflation and a privately owned central bank that seeks to increase its ability to enact QE, ergo further inflating inflation.
Break the cake
Quoting MatTrader101
Cote cpi back at nearly 4%, PPI increased by 0.5% mm again all readings hotter than expected, this is bad Public sector borrowing higher than expected... People are living off credit, and inflation is going up
Nailed it!
Break the cake
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UK is in a recession. Next CPI print is going well below 2% which confirms it.
The forecast seemed a little lost so it's not a huge surprise it beat by 0.2%.


The largest upward contribution came from motor fuels.

Core CPIH y/y (excluding energy, food, alcohol, and tobacco) rose by 4.4%.

Core CPI (excluding energy, food, alcohol, and tobacco) rose by 3.9% in the 12 months to April 2024, down from 4.2% in March.


Falling gas and electricity prices resulted in the largest downward contributions to the monthly change in both CPIH and CPI annual rates.

Housing and Household Services showed a significant annual decrease of 4.9% in April 2024 compared to a 1.6% decrease in March 2024. Monthly rate showed a substantial decline of 2.5%.

Food and Non-Alcoholic Beverages decreased to 2.9% y/y in April 2024 from 4.0% in March 2024.

Probably enough for the BOE to start easing next meeting.
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