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- UK consumer price inflation rises to 0.1% in May
UK consumer price inflation rises to 0.1% in May
The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index rose to 0.1% in May from -0.1% in April, in line with expectations.
The increase was driven by higher prices for airfares and smaller declines in food and fuel prices than a year earlier.
The Bank of England Governor (BoE) Mark Carney expects the consumer price inflation to rise towards the end of the year.
On a monthly basis, U.K. consumer prices increased 0.2% in May, in line with expectations, after a 0.2% rise in April.
Consumer price inflation excluding food, energy, alcohol and tobacco prices climbed to 0.9% in May from 0.8% the month before.
The Retail Prices Index rose to 1.0% in May from 0.9% in April, missing expectations for an increase to 1.1%.
The consumer price inflation is below the Bank of England's 2% target.
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