UK inflation jumps to a four-year high

Figures released today show that the UK’s inflation rate rose to 2.9% in May, up from 2.7% the previous month.

Rates of inflation have been increasing steadily since the Brexit vote and are now at their highest level since June 2013.

Increased prices on electronics such as computer games and laptops, as well as package holidays pushed the inflation rate up, with economists inititally suggesting it would hold at 2.7%.