Arctic Monkeys, Florence + the Machine and Lily Allen are among the acts shortlisted for the 2018 Mercury Prize, it has been announced.

Arctic Monkeys have received their fourth nomination for the prestigious prize for their latest album, Tranquility Base Hotel & Casino.

It became the Sheffield band’s sixth consecutive UK number one album in May and was the fastest selling vinyl record of the last 25 years.

The group won the award in 2006 with their acclaimed debut Whatever People Say I Am, That’s What I’m Not.

Arctic Monkeys at the Royal Albert Hall
Arctic Monkeys previously won the award in 2006 (Yui Mok/PA)

Florence + the Machine scored their third Mercury nomination with High As Hope while former Oasis guitarist Noel Gallagher’s High Flying Birds project got a nod for Who Built The Moon?

Arctic Monkeys, Florence + the Machine and Gallagher were immediately installed as joint favourites by bookmakers William Hill.

Indie bands Everything Everything and Wolf Alice both made the shortlist for the second time.

Lily Allen interview
Lily Allen has her first Mercury Prize nomination (Daniel Leal-Olivas/PA)

Singer Lily Allen scored her first Mercury nomination with No Shame.

Nadine Shah, King Krule and jazz group Sons of Kemet have also been shortlisted for the first time.

Grime MC Novelist’s album Novelist Guy and Lost And Found by Walsall singer Jorja Smith are also debuts that have made the cut.

Smith won the Critic’s Choice award at this year’s Brits.

Compilation album Everything Is Recorded, put together by producer Richard Russell, has also been nominated.

Featured artists on the record include last year’s Mercury winner London singer Sampha.