Economic data release on May 19 shows that consumer price inflation in Britain doubled in the month of April as it stood at 1.5% which is on a higher side compared to the 0.7% recorded for the month of March.
This data was captured and released by the Office for National Statistics. According to the office, an increase in regulated electricity and gas bills is one factor which resulted to the increase in consumer price inflation.
Increased clothing pricing was also a factor which contributed to higher consumer price inflation in the country last month.
“Core inflation, which excludes energy prices and other volatile items, rose by 1.3% in the 12 months to April,” said the office for National Statistics.
The Bank of England says that inflation in the country is heading past its 2% estimate and it might even hit 2.5% before the year ends due to increased global oil prices.