May

CPIH inflation rate has jumped to 1.6%

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The Office for National Statistics (ONS) released data for March 2021 shows the Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 1.6% in the 12 months to April 2021 up from 1.0% to March.

This brings inflation levels towards the Bank of England’s medium-term target of 2% without causing immediate short term pressure on monetary policy and the Bank Base rate currently 0.1%

The largest contributors to this inflation rate increase came from housing and household services at 0.57%

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