This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-28308837

The article has changed 5 times. There is an RSS feed of changes available.

Version 1 Version 2
Inflation rises to 1.9% in June Inflation in sharp rise to 1.9% in June
(35 minutes later)
The rate of UK inflation rose sharply in June, pushed up by higher clothing and footwear, and food and non-alcoholic drinks prices, official figures show.The rate of UK inflation rose sharply in June, pushed up by higher clothing and footwear, and food and non-alcoholic drinks prices, official figures show.
The Consumer Prices Index rose to 1.9%, up from 1.5% in May, according to the Office for National Statistics.The Consumer Prices Index rose to 1.9%, up from 1.5% in May, according to the Office for National Statistics.
Rising air fares and furniture prices also pushed the inflation rate up, the ONS said. Women's clothing prices contributed heavily to the rise.
Air fares and furniture prices also pushed the inflation rate up, the ONS said.
The rate is now close to the Bank of England's 2% target.The rate is now close to the Bank of England's 2% target.
It has remained below the target for seven consecutive months.It has remained below the target for seven consecutive months.
The pound jumped against the dollar following the rise, climbing as high as $1.7144, around three quarters of a cent higher on the day. The pound jumped against the dollar following the inflation figures, climbing as high as $1.7144, around three quarters of a cent higher on the day.
Women's clothing prices, including for trousers and skirts, helped push up the rate of inflation, the ONS said. Economists said that the rise may strengthen the case for a rise in UK interest rates, which have been held at a record low of 0.5%.
The price of vegetables, bread & cereals, sugar, jam, syrups, and chocolate and confectionery, also contributed. "The news will further fuel expectations that the Bank of England will start raising interest rates sooner rather than later, with November looking the most likely month for the first hike," said Chris Williamson. chief economist at research firm Markit.
"Statisticians thought that better than usual weather in June may have led retailers to hold back on summer clothing discounts," he added.
Jeremy Cook, chief economist at currency company World First, said the rise was "a big surprise".
"Inflation is now rising at its fastest rate since January with clothing, food and transport contributing well," he said.
"This will encourage those economists and rate watchers looking for a tightening of Bank of England monetary policy this year, but for those who are seeing below inflation wage increases, the situation just got a little more painful."