UK April inflation soars weakening rate cut expectations, pound and bond yields jump simultaneously

According to the Securities Times app, UK inflation data for April has exceeded expectations, triggering a revaluation of the Bank of England's monetary policy in the financial markets. The latest data shows that the consumer price index (CPI) rose from 2.6% to 3.5% year-on-year in that month, surpassing the Bank of England's forecast of 3.4% and economists' expectations of 3.3%. The core service inflation rate also surged from 4.7% to 5.4%, highlighting the continued escalation of potential price pressures.