The Latest Breaking News from Inflation

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PM to set off on two-day tour of UK nations and Labour leader to head to Tory areas in south-east England

Most of the Prime Minister’s five priorities had not been achieved by the end of last year.

What might have been a curtain call for the Government, with inflation falling to 2.3 per cent, was instead greeted with a sharp intake of breath. The markets were hoping for better, with a consensus forming around 2.1 per cent. As a result, a June interest rate cut now appears…

April’s inflation rate of 2.3% means that if an item cost £100 a year ago, the same thing would now cost £102.30

Higher-than expected UK inflation figures disappointed the City today, with shares closing down as the 2.3% Consumer Price Index reading dashed hopes of a June interest rate cut.

Average house price across the UK are now £283,000, according to the ONS

Higher-than-expected inflation dealt a blow to interest rate cut hopes, while public borrowing grew by £1.5 billion

Watch as Rishi Sunak faces Sir Keir Starmer at Prime Minister’s Questions on Wednesday 22 May.