UK CPI at 2.1% y/y in April versus 2.2% estimated

The UK Consumer Prices Index (CPI) ticked higher in April and came in at 2.1% yearly rate as compared to 1.9% previous, the Office for National Statistics (ONS) reported this Wednesday. 

The core inflation (excluding volatile food and energy items) arrived at 1.8% y/y, matching the reading booked in March but missing the consensus forecast of 1.9%.

The monthly figures showed that the headline CPI rose by 0.6% during the reported month, missing consensus estimates pointing to a reading of 0.7% but was still above 0.2% previous.