Consumer prices in the UK rose 9 percent year-on-year in April.
While inflation in the UK continues its upward momentum, it continues to put pressure on wages. In April, consumer prices in the country increased by 9 percent compared to the same period of the previous year. In March, annual inflation in the country was 7 percent. In April, the increase in consumer prices was recorded as the highest increase in 40 years. Inflation in the country was 2.5 percent in April. The expectation for this data was recorded as 2.5 percent.
The increase in wages in the UK continues below the inflation rate. Employee earnings fell 1.9 percent year on year, the most significant drop since 2013. Consumers have faced an almost unprecedented decline in their real disposable income as inflation is on track to surpass 10 percent by the end of the year.
