UK Inflation jumps to 2.1% ahead of expectations

UK Inflation jumped again in May to 2.1% ahead of economists’ expectations of just a 1.8% rise. This upside surprise follows on from the recent US inflation print which came in at 5%, a figure not seen in 13 years. Central banks  however remain staunch advocates of this inflation surge being temporary and should revert when the global economy irons out some of the kinks in its supply chains as a result of the COVID shut downs.