UK Inflation Declines Slightly But Remains Elevated On Rising Food Prices

Inflation in the UK fell to 8.7% in April, the lowest level in over a year, but still high compared to other countries.
Food price inflation reached 19% in April, the highest level in over 45 years, keeping overall inflation stubbornly high.
Core inflation, which excludes volatile items, rose sharply in April to the highest level since 1992.
The Bank of England is expected to raise interest rates again in June to combat inflation that Governor Andrew Bailey called "sticky and stubborn."
The UK government and IMF expect inflation to decline but remain elevated for the foreseeable future.