This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-22948333
The article has changed 7 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
UK inflation rate rises to 2.7% in May | UK inflation rate rises to 2.7% in May |
(35 minutes later) | |
The rate of consumer price inflation (CPI) increased to 2.7% in May, up from 2.4% in April, the Office for National Statistics (ONS) said. | The rate of consumer price inflation (CPI) increased to 2.7% in May, up from 2.4% in April, the Office for National Statistics (ONS) said. |
The ONS said the rise was due to a record increase in airfares and higher fuel prices. | |
Airfares rose by 22% between April and May, the highest increase since comparable records began in 2001. | |
The Bank of England has said it expects inflation to exceed 3% this year. | |
May's rise in inflation was higher than analysts predicted. | |
The price of clothing and footwear rose by 1.2% month-on-month, after a colder than normal May saw the cost of women's outdoor clothing increase. | |
However, food and drink prices fell, with a reduction in the cost of meat, vegetables, fruit, sugar and jams. | |
The Bank of England expects inflation to remain above its 2% target until early 2016. |