UK Inflation Ticks Higher

For those perpetually on the lookout for any tiny hint of inflation in this lowflation world, here's a nugget: UK inflation rose to 1.8% to 1.6%, although there may have been some one-time factors at play.

From the ONS:

The Consumer Prices Index (CPI) grew by 1.8% in the year to April 2014, up from 1.6% in March. Increases in transport costs, notably air fares, sea fares and motor fuels, provided the largest contribution to the rise in the rate. An overall fall in the price of food was the largest offsetting factor. The timing of Easter is likely to have had an impact on the index - most notably for air fares and sea fares.

Core inflation rose, meanwhile, to 2.0%.