UK inflation hits 15-month high

London

BRITISH inflation hit its highest level in 15 months in March as an earlier-than-usual Easter holiday pushed up airfares, according to data that is likely to reassure the Bank of England (BOE) that near-zero price growth is coming to an end.

Sterling and British government bond yields hit a one-week high after the data showed consumer prices up 0.5 per cent year on year, picking up speed from 0.3 per cent in February and topping a forecast of 0.4 per cent by economists in a Reuters poll.

The core inflation measure watched closely by the BOE also rose, hitting 1.5 per cent - its strongest since October 2014 and above all forecasts in a Reuters po…