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The return of inflation

Households will feel the pinch—and the Brexit vote is partly to blame

By Duncan Weldon  

©Chris Radburn/PA Wire/PA Images

Inflation in the UK is back. CPIH (the Bank of England’s new target, a measure of consumer prices which includes a measure of housing costs) rose by 2.3 per cent in the year to March, having been as low as 0.2 per cent just 18 months ago.

2.3 per cent was also the rate of increase in the year to February, but that pause in inflation’s rise looks to be a blip driven by the timing of Easter (which impacts considerably on flight costs). The…

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