Glonghui, May 24 | The inflation data previously released by the UK fell unexpectedly. Overall CPI fell back to 3.2% (expected 2.1%) and core CPI fell back to 3.9% (expected 3.6%) in April. Worse still, the core CPI rate rose to 0.9% per month, and the sharp rise in service prices raised 3-month inflation to 5% month-on-month (of which super-core inflation was 6%). The inflation outlook is worrying. The British economist Allan Monks insists that interest rates will be cut in August, but he believes that if this trend continues, it may be difficult for the Bank of England to cut interest rates in 2024. Expectations that the Bank of England will cut interest rates in June have been ruled out (possibility down from 52% the previous day to 12%), and the uncertainty of cutting interest rates in August has also become greater (possibility reduced from 100% to 50%). By the end of this year, it is expected to cut interest rates by 37 basis points (previously 55 basis points).