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UK inflation hits 2.1%, vaults past Bank of England target British inflation unexpectedly jumped above the Bank of England’s target in May when it hit 2.1%, part of a post-lockdown climb in prices that is expected gather pace. The acceleration of the consumer price index from April’s 1.5% largely reflected how weak inflation was in May 2020 when the economy was reeling from its first tight lockdown. The figure represented the first time inflation has gone above the BoE’s 2% target in almost two years and was above all 33 forecasts in a Reuters poll of economists which had pointed to a rise in inflation to 1.8%.

United statesUnited kingdomWilliam schombergJack leslieGiles elgoodAndrew baileyDavid millikenAndy haldaneJoe bidenResolution foundationEuropean exchange rate mechanismMonetary policy committeeOffice for national statisticsPresident joe bidenChris hareNational statistics