UK inflation more than doubles in April amid lockdown easing

Figures published by the Office for National Statistics (ONS) published today (19 May) show that on a monthly basis CPI rose by 0.6% in April, following a 0.3% increase in March 2021. CPI including owner occupiers' housing costs rose by 1.6% in the 12 months to April, up from 1% in the previous month, with the largest contribution coming from housing and household services and transport costs growth of 0.57 and 0.56 percentage points respectively. Price rises were partially offset by a downward contribution from recreation and culture, the ONS said. Ambrose Crofton, global market s...