The Office for National Statistics (ONS) has revealed that the UK’s inflation rate in May remained at 8.7%, the same as in April.
The Consumer Prices Index (CPI), including owner occupiers’ housing costs (CPIH), rose by 7.9%, up from 7.8% in April, while CPIH on a monthly basis stayed at 0.6% year on year.
Climbing prices for air travel, second-hand cars, and recreational and cultural goods and services were the biggest contributors to keeping inflation high.
Core CPIH (excluding energy, food, alcohol and tobacco costs) grew by 6.5% — the highest rate in over 30 years.
