United Kingdom Inflation May 2016

United Kingdom

United Kingdom: Inflation stabilizes in May

June 17, 2016

In May, consumer prices increased 0.2% over the previous month, which was slightly above the 0.1% increase seen in April. The figure reflected higher prices for transport costs, restaurant bills and the price of telecommunication services.

Inflation was 0.3% in May, which matched the previous month’s inflation. The figure was down from the 0.4% expected by the markets. Finally, annual average inflation inched up from 0.1% in April to 0.2% in May, thus hitting the highest reading in eight months.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel forecasts that inflation will average 1.3%.

Author:, Senior Economist

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United Kingdom Inflation Chart

United Kingdom Inflation May 2016

Note: Annual and monthly variation of consumer price index in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.

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