UK's Annual Consumer Inflation Rose By 9% In April, Highest Level In 25 Years

The UK's annual consumer inflation rose by 9% in April, compared to the same month of last year, marking its largest annual gain in 25 years, according to official data released on Wednesday.

"The Consumer Prices Index (CPI) rose by 9.0% in the 12 months to April 2022, up from 7.0% in March," the Office for National Statistics (ONS) said in a statement.

"This is the highest CPI 12-month inflation rate in the National Statistics series, which began in January 1997," it added.

The market expectation for the index was to come at 9.1% in April.

Energy played a significant role in inflation reaching a record high level.

Energy prices jumped by 46.5% in April, compared to an 8.3% increase last year, the ONS said.

While electricity rates soared 40.5% last month, the price of gas rose 66.8%, on an annual basis. -