UK inflation rate rises to 2.9%

UK inflation rate rises to 2.9%

UK inflation rate rose to 2.9% in May, up from 2.7% the previous month, official figures show.

It is the highest rate since June 2013 and keeps inflation above the Bank of England’s 2% target.

The Office for National Statistics said one of the main reasons for the rise was the cost of foreign package holidays for British tourists.

Another factor was the price of computer games and equipment, which are usually imported.

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Source: BBC News

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