Consumer prices in the UK in April increased by 0.3% compared with the same month last year, after rising 0.5% in March, according to the Office for National Statistics (ONS) of the country.
Compared to March, the prices increased by 0.1%.
The analysts surveyed by Bloomberg had expected a rise in prices by 0.5% y/y and 0.3% in monthly terms.
Inflation in the United Kingdom remains below the target level of the Bank of England, which is 2% from 2013. According to the Central Bank forecasts, inflation in the country will exceed the target level in 2018, and in 2019 it will reach 2.2%.
The CPI Core index, which excludes prices of food, alcohol, tobacco and energy prices, rose 1.2% in April against 1.5% in March. Experts expect an increase by 1.4%.
The prices of food, alcohol and tobacco products in April fell 1.4% in annual terms, while clothing costs rose 0.3%. Gasoline prices tumbled 8.1%, while motor vehicles and parts decreased by 2.1%.
The retail prices (RPI index) rose last month by 1.3% y/y and by 0.1% compared with March. The economists expected an increase in the first indicator by 1.5%, and the second - by 0.3%.
Particularly the RPI index is used by British employers when negotiating the salary. The difference in the dynamics of CPI and RPI indexes is linked with the housing costs in the RPI, as well as different weights fares, insurance and gasoline prices.
ONS also reported on Tuesday that housing price averagely went up by 9% in March, compared with the same month last year. The pace of house price growth accelerated in comparison with 7.6% in February.
Producer prices in April fell 6.5% in annual terms. Analysts had expected a decline of 6.7%. Compared with March, the prices rose 0.9% against a forecasted growth of 1.1%