Prices in the UK have risen above target - is this something to worry about?
The Bank of England expected inflation to pick up as the economy reopened but the headline rate in May was slightly above what most economists were expecting.
The Bank of England expected inflation to pick up as the economy reopened but the headline rate in May was slightly above what most economists were expecting.
Inflation hit 2.1% for May, ahead of the Bank of England’s 2% target, and it represented an increase on the 1.5% reported by the ONS for April.
The Bank of England has hiked its forecast for UK economic growth this year as Britain’s vaccine-fuelled recovery picks up pace.