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UK inflation jumps past Bank of England target, hits 2.1%

Published by
Reuters

LONDON (Reuters) -British inflation unexpectedly jumped above the Bank of England’s 2.0% target in May when it hit 2.1% and looks set to rise further as the country re-opens its economy after its coronavirus lockdowns. The rise in price growth from April’s 1.5% was driven in large part by the comparison with prices in May 2020 when the country was in its first tight lockdown, especially for clothing, motor fuel, games and take-away food. A Reuters poll of economists had pointed to a rise in inflation to 1.8%. Investors around the world are assessing the risks of a sustained jump in inflation, …

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