UK inflation has risen to 0.5 percent from 0.3 percent according to the Consumer Prices Index.
Inflation is now at its highest since December 2014, but is still well below the Bank of England’s 2 percent target.
The hike is due to a 22.9 percent increase in air fares, due to Easter falling early, and a rise in the cost of clothes and footwear.
easyJet</a> take off from <a href="https://twitter.com/aeroportbiq">aeroportbiq
pilot_airbus</a> <a href="https://twitter.com/AirbusFans">AirbusFans
airbusfangroup</a> <a href="https://twitter.com/gus2333">gus2333
De_aviacion</a> <a href="https://t.co/wgnoqFiUm3">pic.twitter.com/wgnoqFiUm3</a></p>— Basque Spotting (basquespotting) April 10, 2016
British_Airways</a> 747 Jumbo crossing Airport Rd on final for runway 23 <a href="https://twitter.com/hashtag/Toronto?src=hash">#Toronto</a> <a href="https://t.co/lDuQhP9bZS">https://t.co/lDuQhP9bZS</a> <a href="https://twitter.com/hashtag/BA93?src=hash">#BA93</a> <a href="https://t.co/8X8ScCXFH6">pic.twitter.com/8X8ScCXFH6</a></p>— Tom Podolec CTV News (TomPodolec) April 10, 2016
The larger than expected rise in inflation is not expected to impact on interest rates.
Last month the Bank of England’s Monetary Policy Committee voted to keep rates at the 0.5 percent mark, where they have remained for seven years.