UK inflation rose to 3.5% in April, the highest in over a year, driven by higher bills and taxes. This spike casts doubt on further interest rate cuts by the Bank of England, with concerns about persistent inflationary pressures and a new government facing economic challenges.

• Inflation hit 3.5%, a year, high for the UK.
• Bank of England rate cuts now less certain.
• New government faces cost, of, living pressures.