UK inflation jumps to 2.7% in April; Largest year-on-year increase since 2007

Four-year high

Inflation in the UK rose to 2.7% in April, up from 2.3% in March and 0.3% a year ago, the Office for National Statistics (ONS) has revealed.

The UK Consumer Price Index (CPI) has reached levels last seen in September 2013 as a result of the different dates for Easter compared to last year, and higher air fares. According to the ONS: "The increase seen in April 2017 reflects the timing of Easter this year and is similar to the seasonal uplifts seen in other years when the Easter holiday was in April (for example, 2011 and 2014). In contrast, the Easter holidays fell in March 2016, [and] the uplift in prices was seen in the March 2016 data." Contrarian Investor: Should investors fear the return of inflation? The later dat...