Higher household bills drive UK inflation to 3.5%

According to the Office for National Statistics, the largest contributors to the inflationary increase were household bills and services, transport and recreation and culture, while the biggest detractor, although partially offset, was clothing and footwear. Core inflation also rose by 3.8% over the same period, up from 3.4% a month prior – with the CPI goods rising from 0.6% to 1.7% and the CPI services from 4.7% to 5.4%. Chancellor Rachel Reeves shared disappointment at the higher-than-expected inflationary figures - as CPI was forecast to rise to 3.3% in April – acknowledging that ...