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British inflation jumps again in May, tightening squeeze on consumers

Inflation is high around world but in Britain there is extra pressure due to fall in sterling

Reuters  |  London 

British inflation unexpectedly jumped to its highest level in nearly four years in May, tightening the squeeze on consumers who now face the added worry of political uncertainty after last week's inconclusive election. The impact of the fall in the pound since last year's Brexit vote made itself felt as the higher costs of foreign holidays and of imported computer games and equipment helped push up consumer prices by 2.9 per cent year-on-year. That was its biggest annual increase since June 2013, the Office for National Statistics said and was above the median ...

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First Published: Tue, June 13 2017. 17:46 IST