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- UK CPI inflation rose more than expected in May
UK CPI inflation rose more than expected in May
The Consumer Prices Index including owner occupiers' housing costs (CPIH, not a National Statistic) 12-month inflation rate was 2.7% in May 2017, up from 2.6% in April.
The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since April 2012.
Rising prices for recreational and cultural goods and services (particularly games, toys and hobbies) was the main contributor to the increase in the rate.
There were smaller upward contributions from increased electricity and food prices.
These upward contributions were partially offset by falls in motor fuel prices, and air and sea fares, the latter two influenced by the timing of Easter in April this year.
The Consumer Prices Index (CPI) 12-month rate was 2.9% in May 2017, up from 2.7% in April.
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