UK inflation rises more than expected to 3.5%

Inflation has risen to 3.5% in April, higher than expected as household bills and national insurance contributions increased dramatically.

The Office for National Statistics (ONS), revealed the Consumer Prices Index (CPI) rose by 3.5% in the 12 months to April, the highest it has been all year. 

The figure is greater than analysts’ expectations of 3.3%. The central bank expected last month’s inflation rate to hit 3.4%.