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this latest ceasefire $245 million in aid to help support people fleeing the violence. i m ben thompson. let s start in the uk where the cost of living crisis is showing some tentative signs that it is starting to ease slightly. the latest rate of inflation for the month of april has fallen to 8.7% now that s still very high and above the 8.2% rate that many economists forecast, but still a significant drop compared to the over 10.1% rate we saw last month. double digit inflation that had been in place since august last year all well above the bank of england 2% target hitting a peak at 10.4% in february, before slowly coming down. this latest figure is the sharpest drop since the cost of living crisis began. but growing cost of food still remains very high. as you can see here, food prices increased by 19% in april and havent yet come down from their peak. making it difficult for people to feel better off right now. joining us now is simon french, chief economis ....
Issue, isn t itbecause core inflation remain sticky. yes, you absently right. inflation remain sticky. yes, you absently right. central inflation remain sticky. yes, you absently right. central bankers l inflation remain sticky. yes, you i absently right. central bankers who are interest rates around the world are interest rates around the world are looking at stubborn core inflation that is wages, services, rants. the type of things that are generally immune to the bit more volatile impacts of energy and food costs. that is at 6.8% in the data that we saw this morning. the highest in 31 years. it is going to be very difficult for the bank of england to try and suggest that no more interest rate increases are needed. markets are pricing for more interest rate increases on the back of the state. interest rate increases on the back of the state- of the state. yes and that is quite a chance of the state. yes and that is quite a change from of the state. yes and that is quite a chang ....
Inflation. ~ . . that will hope to bring down inflation. ~ . , ., that will hope to bring down inflation. ~ . , . , . inflation. what is a picture with interest rates inflation. what is a picture with interest rates and inflation. what is a picture with interest rates and central- inflation. what is a picture with interest rates and central bank| interest rates and central bank decisions elsewhere in the world? everyone follows america and the federal reserve puts tele put their rate up by 0.5% yesterday, less aggressive. the european bank is expected to do the same thing today. inflation is the big battle and the feeling is that it has peaked in america and here too. this is the usual lever that banks use to put interest rates up, which stops people spending and brings down inflation. these factors are global, the war in ukraine, the price of gas and that sort of thing. a lot of it is out of the control of the bank but we will get a sense of a path starting to emerge ahead for the ....
Happening at the same time and it s a big confluence of events that is exploding at the same time and not necessarily the threat of a cold winter, but a cold winter on top of the already declining reserves in some places on top of this insatiable demand for energy. giving info to the banking insatiable demand for energy. giving info to the banking committee - insatiable demand for energy. giving info to the banking committee on the hill, what did he have to say about inflation? . . hill, what did he have to say about inflation? , , ., inflation? this is something that, he is the head inflation? this is something that, he is the head of inflation? this is something that, he is the head of the inflation? this is something that, he is the head of the central- inflation? this is something that, | he is the head of the central bank federal reserve and he has been talking about inflation for quite a while. when you see these kinds of, this high demand of short supply, obviously you r ....