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UK inflation rate eases to 2.8% in April, but slowdown is expected to be short-lived
U.K. inflation eased to 2.8% in April, preliminary data from the Office for National Statistics (ONS) showed on Wednesday. Economists polled by Reuters had expected the inflation rate to drop back to 3%, cooling from 3.3% in March, largely due to an energy price cap introduced by the U.K.’s energy regulator Ofgem on April 1. Consumer prices are expected to continue to increase, however, as higher energy costs due to the Iran war continue to materialize. “There was a notable fall in annual inflation led by lower electricity and gas prices. This was due to the Government’s energy bill support package reducing ... (full story)
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