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UK consumer prices accelerate to 2.1% in April

UK consumer prices accelerate

U.K. consumer prices accelerated to 2.1 percent in the year through April, buoyed by rising energy prices and air fares.

CPI inflation measure rose from 1.9 percent in the March, but came below expectations of 2.2 percent, data from the Office for National Statistics released on Wednesday showed.

The core CPI reading lingered at 1.8 percent, which also fell short of expectations of 1.9 percent.

“Rising energy prices and air fares, which were influenced by the timing of Easter, produced the largest upward contributions to change in the rate between March and April 2019,” the ONS said.

As of 09:14 GMT, the pound hit a fresh four-month low at $1.2661, extending its drop for the 13th day in a row, as it remained haunted by Brexit concerns.

The pound got another hit after Prime Minister Theresa May’s latest attempt to get her Brexit agreement through parliament thrashes.

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