Inflation could jump to 4% by late 2017, thinktank warns

The leading thinktank said it had recognised signs of "substantial impending inflationary pressure" following the depreciation of sterling against the dollar after June's Brexit vote. It added the rise in prices will "accelerate rapidly" as the fall in sterling is passed onto consumers. The latest figure is higher than the previous forecast of 3% in August, which was given before CPI rose from 0.6% to 1% in September - where the rate of CPI remains today. This increase has already seen the cost of clothes, petrol and hotel rooms increase, according to the BBC. Simon Kirby, head ...