Why has inflation increased and what does it mean for households?

The Office for National Statistics said inflation lifted to the highest level since March last year, moving it further away from the Bank of England’s 2% target rate (Yui Mok/PA) - (PA Wire)

UK inflation increased to 3% last month in a sharper-than-expected rise, according to new figures.

The Office for National Statistics said inflation lifted to the highest level since March last year, moving it further away from the Bank of England’s 2% target rate.