UK inflation jumped 1.5% in April as the economy reopened and Brits boosted their spending

UK inflation jumped 1.5% in April as the economy reopened and Brits boosted their spending

UK inflation rose 1.5% in April compared to a year earlier as economy reopened and energy and clothing prices climbed, official figures showed Wednesday, an increase that was in line with economists' expectations. The rise in the headline consumer price index inflation rate was up sharply up from 0.7% in March. When looked at month-on-month, CPI inflation rose 0.6% in April compared to 0.3% in March, the Office for National Statistics . However, ONS chief economist Grant Fitzner said so-called base effects were a key driver of the headline rate. "Inflation rose in April, mainly due to prices rising this year compared with the falls seen at the start of the pandemic this time last year. This was seen most clearly in household utility bills and clothing prices." Core inflation, which excludes food and energy prices, rose 1.3% in April compared to a year earlier. That was in line with expectations and followed a 1.1% rise in March. The was roughly flat against the dollar at $1.419 on Wednesday, having shown little reaction to the data. Inflation has become a major focus for financial markets in recent months, with investors worried that as countries reopen and cause central banks to