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U.K. Inflation Climbs Above Target on Energy Costs, Air Fares
Energy and transport costs pushed U.K. inflation back above target last month. Consumer prices rose 2.1% from a year earlier, ending a three- month spell of inflation below the Bank of England’s 2 percent goal, Office for National Statistics figures published Wednesday show. The figure was slightly below the 2.2% forecast by economists. The pickup, from 1.9% in March, was driven by the lifting of the government cap on default energy tariffs. Electricity prices jumped 10.9% and gas increased 9.3%, dwarfing increases seen a year earlier. There was also upward pressure from higher auto-fuel prices, while Easter ... (full story)