Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Qatari Foreign Ministry: "Israel" should have already ceased fire under Trump plan for Gaza
Qatari Foreign Ministry: Release of Israeli captives will mark end of war in Gaza in accordance with Trump plan.
Israeli media: Security incident in Gaza Strip classified as serious results in six wounded soldiers so far, two critically injured.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strike targets vehicle in Deir Ames, Tyre governorate.
Lebanese Ministry of Health: Final toll from airstrike on car in Zebdine, Nabatieh District: Two martyrs, four injured
Egyptian media: Indirect talks between Hamas and Israelis begin in Sharm el-Sheikh.
AFP: France's new PM Sebastein Lecornu resigns just hours after unveiling cabinet.
Trump: Technical teams will meet again on Monday in Egypt to discuss and clarify the final details, and the first phase is scheduled to be completed this week
US President Donald Trump: Talks with Hamas have been very successful and are moving at a rapid pace
Local sources in Aleppo: Violent clashes erupt between the SDF and factions affiliated with the transitional authority on the Deir Hafer and Tishrin Dam fronts in the eastern Aleppo countryside

UK annual inflation slides to eight-month low

  • By Al Mayadeen English
  • Source: Agencies
  • 24 May 2023 12:16
2 Min Read

Britain's annual inflation rate fell sharply to an eight-month low of 8.7% last month.

  • x
  • A man walks past the Bank of England, at the financial district in London, Thursday, May 11, 2023. (AP)
    A man walks past the Bank of England, at the financial district in London, Thursday, May 11, 2023. (AP)

The United Kingdom's annual inflation rate fell sharply to an eight-month low of 8.7% in April with weaker energy prices, official data revealed on Wednesday. 

The rate of price increases decreased from 10.1% in March, pushing inflation under 10% for the first time since August last year, the Office for National Statistics stated. "However, prices, in general, remain substantially higher than they were this time last year, with annual food price inflation near historic highs," noted ONS chief economist Grant Fitzner.    

April's rate was above the Bank of England's (BoE) prediction for inflation of 8.4% last month, despite the sharp drop. The annual inflation rate in April was also the highest in the Group of Seven rich economies, featuring Canada, France, Germany, Japan, Italy, and the United States. 

As the UK government has said, it sees inflation dropping to about 5.0 percent, by year-end, while the BoE's target rate of 2.0 percent remains far off. 

Related News

Lebanon bonds surge, recovery value remains uncertain: Reuters

Lebanon passes banking restructuring law to secure funds from the IMF

Read next: Recession in UK to last 2 years, Bank of England hikes rates

Last month, "the rate of inflation fell notably as the large energy price rises seen last year were not repeated... but was offset partially by increases in the cost of second-hand cars and cigarettes," Fitzner added.    

One day after the International Monetary Fund delivered a major U-turn on its forecast for the UK economy, saying it was expecting growth this year, a month after predicting contraction. That said, the UK's economy is expected to expand 0.4% in 2023, the IMF noted in its latest outlook document, which cited weaker energy prices. 

The IMF ripped up its previous forecast in April for a 0.3-percent contraction.    

"The IMF said yesterday we've acted decisively to tackle inflation but although it is positive that it is now in single digits, food prices are still rising too fast," finance minister Jeremy Hunt said following Wednesday's data.

Read next: SVB UK sold to HSBC for only 1 pound, no taxpayer money involved

  • International Monetary Fund
  • inflation
  • UK inflation
  • United Kingdom

Most Read

Iraq at a crossroads: A new war front?

Iraq at a crossroads: A new war front?

  • West Asia
  • 30 Sep 2025
Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
ap

'Israel' pays influencers $7K per post to whitewash Gaza genocide

  • Politics
  • 1 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Hezbollah's representative in Iran, Sayyed Abdullah Safieddine, during an interview with Al Mayadeen which aired on October 6, 2025 (Al Mayadeen)
Politics

Tehran never interferes in Hezbollah decisions: Representative in Iran

Smoke billows over the Gaza Strip following an Israeli bombardment, as seen from southern Palestine, Sunday, Oct. 5, 2025. (AP)
Politics

Indirect talks for a ceasefire in Gaza begin in Sharm El-Sheikh

Fighters from the Syrian Democratic Forces (SDF) prepare to attend a military parad in Qamishli, northeastern Syria, Tuesday, August 12, 2025 (AP)
Politics

Security forces seal Aleppo’s Sheikh Maqsoud, Ashrafieh districts

Amsterdam Captain Mohammed Ali Mohiuddin, who took part in the Global Sumud mission to Gaza, talks to Al Mayadeen on October 6, 2025 (Screengrab)
Politics

GSF captain says despite abuse, 'Israel weaker than spider's web'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS