Pressure will build on Bank of England not to fall behind the curve with inflation

Analysis: Threadneedle Street believes the above-target 2.1% figure will prove temporary

• UK inflation jumps to 2.1% as petrol and clothing prices rise

Inflation is on the march. After the easing of lockdown in May, Britain has raced from economic bust to boom, with the rate of consumer price inflation hitting 2.1% - above expectations and breaching the Bank of England's 2% target rate.

Driven by the rising cost of petrol, clothing and recreation in the month indoor hospitality reopened, the latest snapshot will fuel concern that the cost of living is spiralling out of control. But it must also be taken with a pinch of salt.