Consumer prices in the UK rose by 3.4% year-on-year in May, according to a report by the country’s Office for National Statistics (ONS).
Inflation was also 3.4% in April. According to Trading Economics, analysts had forecast that price growth would remain at this level last month.
The ONS initially reported a 3.5% price increase in April, but then revised its estimate due to a calculation error.
Food and non-alcoholic beverages rose by 4.4% in May (3.4% in April), entertainment and recreation by 3.2% (3.1%), and transport services by 0.7% (3.3%). Prices in restaurants and hotels rose by 2.8% (2.7%). At the same time, the cost of clothing and footwear fell by 0.3% after a 0.4% decline in April.
Consumer prices in Britain rose by 0.2% in May compared to the previous month, while in April there was a 1.2% increase.
Prices excluding food, alcohol, tobacco and energy (CPI Core index, core inflation) rose by 3.5% over the year and by 0.2% over the month. In April, the first indicator rose by 3.8% and the second by 1.4%.
The rise in retail prices (RPI index) slowed to 4.3% year-on-year last month from 4.5% in April. This is the indicator used by British employers in wage negotiations. The difference in the dynamics of the CPI and RPI indices is due to the inclusion of housing costs in the RPI, as well as the different weightings of airfares, insurance and petrol prices. The RPI rose by 0.2% month-on-month in May, following a 1.7% increase in April.
