UK inflation rate at highest level since September 2013

[dutchman]

The UK's inflation rate rose last month to its highest since September 2013, official figures show



Inflation now stands at 2.7% - up from 2.3% in March - and above the Bank of England's 2% target.

The main reason was higher air fares, which rose because of the later date of Easter this year compared with 2016.

Rising prices for clothing, vehicle excise duty and electricity also played a part, but a fall in the price of petrol and diesel slightly offset this.

Last week, the Bank of England warned that inflation as measured by the Consumer Prices Index (CPI) would peak at just below 3% this year.

It also warned that 2017 would be "a more challenging time for British households" with inflation rising and real wages falling - leading to a consumer spending squeeze.

Pay including bonuses rose at an annual rate of 2.3% in the three months to February, according to the ONS. The latest figures on earnings growth are due out on Wednesday.

The Office for National Statistics (ONS) said the cost of air travel went up by 18.6% from the month before, with Easter falling on 16 April this year compared with 27 March last year.

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

Electricity and food prices also went up, but there were falls in the cost of gas, petrol and diesel.

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

The ONS's new preferred inflation measure of CPIH, which contains a measure of housing costs, rose to 2.6% from 2.3% in March.

[rebbonk]

If you want a true idea of inflation, simply ask the average housewife how her food bill is rising.