According to a report from Jin Shi Data, Barclays economists Jack Meaning and Iaroslav Shelepko pointed out that the UK's inflation data for April is expected to accelerate compared to last month. Part of the reason is the increase in the national living wage and employer national insurance contributions.
Economists expect the annual overall inflation rate for April to rise to 3.3%, while the annual core inflation rate may increase to 3.5%. However, there is high uncertainty in the CPI for April due to multiple annual resets, indexed price changes, and some one-off price changes.