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UK inflation remains highest for more than a year

UK inflation remains highest for more than a year

BBC News6 hours ago

UK inflation remained at 3.4% in the year to May as cheaper air fares offset higher food prices as the cost of chocolate and meat rose. The pace of price rises was the same as in April, following a revision by the Office for National Statistics (ONS), and means that inflation remains at its highest for more than a year.It said that the cost of plane tickets fell compared with a large rise last year "as the timing of Easter and school holidays affected pricing".Inflation remains above the Bank of England's target rate of 2% but it is not expected to cut interest rates when it meets on Thursday.

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Examples of where inflation jumped in May – and where it eased
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Examples of where inflation jumped in May – and where it eased

The average price of chocolate last month was 17.7% higher than a year ago, up from 14.6% in April. This is the highest figure for chocolate since comparable data began in 2016, according to data published by the Office for National Statistics (ONS). Inflation also accelerated sharply for computer software, which stood at 16.3% in May compared with 8.2% in April. The price of coffee was up 13.9% year-on-year, higher than the 7.5% figure in April, with similar jumps for whole milk (up from 3.0% to 5.9%) cheese (up from 2.8% to 4.9%) and ice cream (up from 0.3% to 7.6%). The cost of furniture and household goods increased, particularly kitchenware. Irons, fridges, freezers, washing machines and dishwashers all saw inflation fall year-on-year by a smaller amount in May than in April, reflecting a rise in prices in shops. The average cost of a cooker swung from negative inflation in April (down 3.4% year-on-year) to positive inflation in May (up 2.3%), while inflation climbed higher for heaters and air conditioners. By contrast, petrol and diesel both saw prices continuing to drop. The average cost of petrol last month was 11.0% lower than a year earlier, a larger drop than the 9.1% fall seen in April. Diesel also recorded a sharper decrease, down 11.0% year-on-year in May compared with a fall of 9.8% in April. The cost of travelling by train was up 4.9% in May compared with a year earlier, lower than the 8.6% recorded in April. Inflation also eased for travel by bus and coach, which stood at 9.6% in May compared with 13.0% in April. There was a big shift in the cost of air travel, which swung from positive inflation of 16.2% in April to negative inflation of 3.9% in May. And several items saw prices fall faster year-on-year in May than in April, including olive oil, pasta and couscous, pizza and quiche, men's shoes and low-fat milk. Below are some examples of how the Consumer Prices Index (CPI) inflation rate has eased or accelerated. Two figures are listed for each item – the average rise in price in the 12 months to April, followed by the average rise in price in the 12 months to May. – Examples where annual inflation has accelerated, ranked by the size of change: Software: April up 8.2%, May up 16.3% Edible ices/ice cream: April up 0.3%, May up 7.6% Coffee: April up 7.5%, May up 13.9% Irons: April: down 9.5%, May down 3.3% Cookers: April down 3.4%, May up 2.3% Refrigerators/freezers: April down 10.7%, May down 5.5% Personal computers: April down 9.1%, May down 5.9% Chocolate: April up 14.6%, May up 17.7% Breakfast cereals: April up 2.2%, May up 4.8% Cheese/curd: April up 2.8%, May up 4.9% Heaters/air conditioners: April up 1.9%, May up 4.0% Crisps: April up 3.0%, May up 4.2% Meat: April up 3.6%, May up 4.8% Bread: April up 1.8%, May up 2.4% – Examples where annual inflation has eased: Passenger transport by air: April up 16.2%, May down 3.9% Olive oil: April down 1.5%, May down 6.0% Passenger travel by train: April up 8.6%, May up 4.9% Passenger transport by bus/coach: April up 13.0%, May up 9.6% Margarine: April up 4.2%, May up 1.2% Cinemas/theatres/concerts: April up 2.1%, May down 0.5% Pasta & couscous: April down 4.2%, May down 6.0% Fruit & vegetable juices: April up 8.2%, May up 6.4% Eggs: April up 4.7%, May up 3.3% Pizza & quiche: April down 1.2%, May down 2.6% Men's footwear: April down 2.1%, May down 3.5% Low-fat milk: April down 0.2%, May down 1.0% Tea: April up 1.6%, May up 1.2%

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