You are here: Home - News -

UK inflation unexpectedly rises to 2.7%

by: Joanna Faith
  • 16/05/2017
  • 0
Inflation hit a higher-than-expected 2.7% in April, the highest rate since September 2013, according to the Office for National Statistics (ONS).

The Consumer Price Index rose from 2.3% the previous month.

The main contributor to the uptick in prices was higher air fares, thanks to Easter falling later this year, the ONS said.

Rising prices for clothing, vehicle excise duty and electricity also contributed to the rise.

With the Brexit-hit pound pushing up import costs, prices are expected to continue rising. Last week’s inflation report from the Bank of England forecast inflation to reach 2.8% by the end of the year.

Maike Currie, investment director at Fidelity International, said: “The combination of rising prices and lacklustre wage growth is squeezing real incomes and making life more difficult for consumers.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.

Read previous post:
shovel in the ground
How to support your developer with land planning applications

The earliest stages of a new property development or refurbishment project can easily be the most volatile. Lendinvest's Steve Larkin...

Close