Rapid core inflation rise leaves Bank of England behind, skyrockets bond yields

Quick Take

• Headline CPI inflation fell for the UK in April to 8.7%, forecasted at 8.2%, a huge miss.
• CryptoSlate has reported previously that core inflation worldwide is the biggest issue.
• UK Core CPI year over year came in at 6.8% from 6.2%, a high not seen since 1992.
• In addition, core CPI month over month accelerated to 1.2%, expected at 0.7%.
• As a result, yields have soared, leaving a severe inversion across the yield curve.

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