UK CPI is expected at 6.2 YoY%. A revised higher figure could mean further rate hikes in the UK.

UK Inflation is expected to fall on Wednesday as the Office for National Statistics (ONS) is due to reveal the UK Consumer Price Index (CPI) inflation data, which expected forecasts coming in from analysts is at 6.2% for April.

Many eyes will be watching for this as investors will be looking for a good reduction on March’s 10.1% print, which was above expectations. If CPI does come in below 10% this will be the first time since August last year.

A steep drop in the Core CPI figure tomorrow will improve the changes that the Bank of England keep interest rates at 4.5%.

If inflation is persistent then the bank may rise rates again for the 13th consecutive time to 4.75%, causing more stress on variable rate mortgages and debt interest. Though savers may see benefits.

Minipip will report on this tomorrow morning with further updates.