UK inflation falls to 8.7% but food prices remain stubbornly high

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UK inflation falls to 8.7% but food prices remain stubbornly high

The inflation rate in the UK dropped to 8.7% in April, which was less than expected by the Bank of England, which increased the pressure on the central bank to continue raising interest rates.

The figure will be a blow to ministers and the central bank, as consumer price inflation was much less expected to fall to 8.4% from 10.1% in March.

Food price inflation remained near a 45-year peak at 19.1% in April, compared with 19.2% in March.

More worryingly, core inflation, which excludes food, alcohol, tobacco and energy prices, jumped to 6.8% from 6.2%, underscoring the dangers of persistently high inflation in the UK.

Jeremy Hunt, Chancellor of the Exchequer, said: “The IMF said yesterday that we had acted decisively to tackle inflation, but while it is positive that inflation is now in single digits, the rate at which food prices are rising Still too fast.”

“We must firmly stick to our plan to reduce inflation,” he added.

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