With energy prices rising, the UK inflation rate more than doubled in April
The annual inflation rate in April doubled to 1.5%, the highest level in more than a year due to rising gasoline prices and rising natural gas and electricity bills.
The consumer price index rose from 0.7% in March, in line with the expectations of economists and the Bank of England, who saw the move as a step in which the inflation rate exceeded the 2% target by the end of the year.
Unlike the United States, the United States’ inflation rate reached 4.2% in the same month, while the United Kingdom’s figures have yet to show signs of continued price increases and overspending.
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