Commenting on the figures, Danske Bank Economist Conor Lambe said:
“The CPI inflation rate increased from 2.3 per cent in March to 2.7 per cent in April 2017. Higher prices for air travel given the timing of Easter, and a rise in prices for clothes and electricity contributed to this increase in inflation.
“UK inflation has not been this high since September 2013 and it will continue to exert some pressure on households’ spending power.
“Despite the fact that inflation is now even further above the Bank of England’s 2 per cent target, I still expect interest rates to remain at their current low level for some time yet given the slowdown in economic growth observed in the first quarter of this year, the pressure on real wage growth and the upcoming Brexit negotiations.”
This comment was published in response to the April 2017 UK inflation data published by the ONS on 16th May 2017.