UK CPI annual rate drops to 2.8% in April, lower than expected

According to JinShi Data on May 20th, the annual CPI rate in the UK in April fell from 3.3% in March to 2.8%, lower than economists' expectations of 3.0%. James Smith, an analyst at Dutch International Group, said that inflation data and weak employment data in the UK have reduced the possibility of a significant interest rate hike by the Bank of England. According to data from the London Stock Exchange Group, investors expect a 19% probability of the Bank of England raising interest rates in June, lower than the 42% expected before the release of employment and inflation data this week.