UK inflation jumps in May, tightening squeeze on the budget-conscious
Higher cost of foreign holidays, imported computer games and equipment due to a falling pound are behind the 2.9% rise
Wed, Jun 14, 2017 - 5:50 AM
Despite the sharp rise in consumer prices, the Bank of England is widely expected to keep interest rates at their record low of 0.25% when it announces its latest monetary policy decision on Thursday. It says it will tolerate inflation above its target of 2%.
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...