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Bbc: Fuel Costs Push Inflation To 2.5%

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Inflation at 2.5 % says ONS

Rising gas and electricity bills have pushed UK inflation to its highest level since September 2005, the Office for National Statistics (ONS) has said.

Consumer Price Index inflation rose to 2.5% from 2.2% in May, well above the government's 2% target.

The headline rate of RPI inflation, which includes mortgage interest payments, rose from 3% to 3.3%.

The rise could put pressure on the Bank of England to raise interest rates to keep inflation under control.

The latest inflation figure matches the highest level since the CPI measure was introduced in 1997.

"The figures are pretty nasty. The rise in inflation was well in excess of market expectations," said Investec economist Philip Shaw.

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Edited by Mrliberty

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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