Bank of England target breached for first time in two years to fuel fears of sustained rise in cost of living
- Business live updates: UK inflation moves above Bank’s target
- Coronavirus – latest updates
- See all our coronavirus coverage
UK inflation jumped to 2.1% in May, breaching the Bank of England’s target for the first time in two years and stoking fears that the easing of pandemic restrictions since March will lead to a sustained rise in the cost of living.
The price of fuel was one of the main drivers of May’s increase, soaring by almost 20% from last year to push the rate of inflation up from 1.5% in April.
Read the original article at The Guardian