The UK inflation rate rose to 2.7% in April from 2.3% in March, the Office for National Statistics says, its highest rate since September 2013 and above the Bank of England’s 2% target.

Higher air fares were the main reason, which rose because of the later date of Easter this year compared with 2016.

Rising prices for clothing, vehicle excise duty and electricity also played a part in the pick-up in inflation.

However, a fall in the price of petrol and diesel slightly offset this.

Last week, the Bank warned that the Consumer Price Index (CPI) would peak at 3% this year because of the fall in sterling after the Brexit vote.

The cost of air travel went up by 18.6% from the month before, with Easter falling on 16 April this year compared with 27 March last year.

The price of clothes jumped to the highest level for six years, with a rise of 1.1% between March and April after falling by 0.4% this time last year.

Chris Williamson, chief business economist at analysts IHS Markit, said: “The timing of Easter looks to have played an important role in pushing inflation higher in year-on-year terms.

“But sterling’s depreciation since the referendum last June is also clearly a significant factor, lifting prices for imports and likely to pile further upward pressure on consumer prices in coming months.

“There are nevertheless signs that inflation could perhaps rise less than many had been fearing.

“Survey data are already showing companies’ costs are rising at a slower rate than earlier in the year, and recent weeks have seen some easing in global commodity prices, notably oil. ”

Source: bbc.com