National News Rising inflation ‘posing a serious challenge to UK households’

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    National News
    Rising inflation ‘posing a serious challenge to UK households’


    Inflation hit its highest level in nearly four years last month as the Brexit-hit pound, electricity price hikes and rising air fares tightened the squeeze on consumer spending.

    The Office for National Statistics (ONS) said the Consumer Price Index (CPI) measure of inflation rose to 2.7% in April, above economist predictions of 2.6%.

    CPI has not reached 2.7% since September 2013 and was last higher in July 2013 at 2.8%.

    It means inflation is now outstripping wage growth, which rose by 2.3% in the year to February.

    Kay Daniel Neufeld, economist at the Centre for Economics and Business Research (Cebr), said the jump in the cost of living poses “a serious challenge to UK households”. (...)

    http://www.dailyecho.co.uk/news/national/15288333.Inflation_hits_three_and_a_half_year_high/

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