Britain’s CPI Drops to 3.0% From 3.5%, Net Borrowing at -18.8B - 22.5.2012
The yearly Consumer Price Index for Great Britain on April unexpectedly reduced to 3.0 per cent compared to the 3.5 per cent in March as the Office for National Statistics reported today, while the expected CPI was 3.1 per cent. The cooling down of inflation in April brings it closer to the target of the Bank of England who had to halt quantitative easing even if the debt crisis in Euro-area worsened. The Core CPI which excludes energy prices and food, the more volatile items, was as well reduced to 2.1 per cent from 2.5 per cent in April. Lastly, the Public Sector Net Borrowing dropped to -18.8 billion of net borrowing in April from the revised 14.6 billion in March, therefore in April, UK is running a budget surplus, however the projected Net Borrowing was at -22.8B.