UK inflation jumps in May, tightening squeeze on the budget-conscious

London

BRITISH inflation unexpectedly jumped to its highest level in nearly four years in May, tightening the squeeze on consumers who now face the added worry of political uncertainty after last week's inconclusive election.

The impact of the fall in the pound since last year's Brexit vote made itself felt as the higher cost of foreign holidays and of imported computer games and equipment helped push up consumer prices by 2.9 per cent year-on-year.

That was its biggest annual increase since June 2013, the Office for National Statistics (ONS) said, and was above the median forecast…