United Kingdom: Annual consumer prices pick up in May
June 16, 2015
In May, consumer prices rose 0.2% over the previous month, which matched April’s result. The figure reflected higher prices for transportation as well as for food and motor fuels.
Consumer prices rose 0.1% over the same month last year, which contrasted the 0.1% drop seen in April. April’s result had marked the first annual fall in consumer prices since 1960. May’s increase met market expectations. Annual average inflation inched down from 0.9% in April to 0.8% in May, the lowest level on record.
Author: Dirina Mançellari, Senior Economist