Article preview: The official measure of price inflation more than doubled in the year to April, driven higher by rising energy prices and higher clothing retail prices. The Office for National Statistics (ONS) reported that the Consumer Prices Index (CPI) measure of price inflation rose to 1.5% in the twelve months to April, up from 0.7% a month earlier. CPI inflation now stands at its highest level since last March but remains below the Bank of England target of 2%.
Price inflation doubles in a month, but rises are likely to be temporary
This 443-word blog post looks at the latest inflation figures from the Office for National Statistics. Written on 19th May 2021.
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