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Podcast: Beyond Currency
Episode: 25 May 2023 - Inflation falls, but less than expected
Description: The latest data for inflation was published yesterday, and it showed that although headline inflation fell back into single figures, the fall was less than expected at an annual rate of 8.7% versus 10.1% previously.
The market was expecting the fall to be even greater at 8.1%. This means the likelihood of the Bank of England hiking interest rates again at its next rate-setting meeting is more likely than previously expected.
Core inflation, the rate with more volatile items like energy and foodstuffs stripped away, rose in April to 6.8%, up from 6.2%.
This was the outcome that Andrew Bailey, the Bank’s Governor had wa...