UK shares climb as April inflation cools to 2.8 percent
UK shares rose as inflation slowed to 2.8%, easing rate hike fears. Marks & Spencer led gains, but analysts warned oil prices may fuel future inflation.
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United Kingdom equities rose on May 20 after April inflation fell to an annual rate of 2.8%, beating economist forecasts of 3.0%. The FTSE 100 gained 0.13% while the FTSE 250 climbed 0.29% by midday. Lower inflation reduces pressure on the Bank of England to maintain its aggressive interest rate tightening cycle.
