UK inflation rate rises to highest level since September 2103

Inflation now stands stands at 2.7%, which is above Bank of England's 2% target

The UK's inflation rate rose last month to its highest since September 2013, official figures showed on Tuesday.

Inflation now stands at 2.7 per cent — up from 2.3 per cent in March — and above the Bank of England's two per cent target, the BBC reported.

Higher air fares were the main reason, which went up by 18.6 per cent from the month before because of the later date of Easter this year compared with 2016.

The price of clothes jumped to the highest level for six years, with a rise of 1.1 per cent between March and April.

 

The Retail Prices Index (RPI), a separate measure of inflation which includes council tax and mortgage interest payments, reached 3.5 per cent last month, up from 3.1 per cent in March.

Last week, the Bank of England warned that the Consumer Prices Index (CPI) would peak at three per cent this year because of the fall in the pound after the Brexit vote.