Chancellor Rachel Reeves says she is disappointed with news the UK inflation rate jumped to 3.5% in April - its highest level in more than a year. The Office for National Statistics (ONS) said the increase, up from a 2.6% rate in March, was explained by "significant increases in household bills" last month. When asked about the winter fuel cut, Ms Reeves said it "was necessary to stabilise the public finances". #ukeconomy #inflation #business #money #rachelreeves #skynews Latest updates: https://news.sky.com/story/politics-latest-labour-reform-starmer-farage-tories-migration-prisons-12593360 SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales