Inflation jump gives Bank of England jitters

UK inflation jumped from 2.6% to 3.5% last month, largely due to rising energy costs. The Bank of England (BoE) and UK government’s annual target of 2% seems a long way off now to concerned consumers, who were getting used to falling figures. The rise cannot be put down to just energy rises, though. Transport costs rose by over double from March, whilst water and sewage bills saw their largest increase in decades. There’s no doubt that today’s data poses headaches for businesses, consumers and the Bank of England. It’s likely to get worse down the line, too, with the rate-setter expecting...