UK inflation higher than forecast in May amid rising food prices

Yorkshire Post

UK inflation was higher than expected in May as rising food prices offset a drop in air fares and transport costs, new official figures show.The rate of Consumer Prices Index (CPI) inflation fell to 3.4% in May from 3.5% in April, the Office for National Statistics (ONS) said.

Transcript

00:00Hello, I'm Greg Wright of the Yorkshire Post and here are your headlines for this morning.

00:05UK inflation was higher than expected in May, as rising food prices offset a fall in airfares and transport costs.

00:14The rate of CPI inflation fell to 3.4% in May, from 3.5% in April.

00:20However, the ONS had an error in vehicle tax data collected,

00:24meant that April's CPI rate should have been 3.4%, but it was not changing the figure.

00:30Most economists expect the CPI rate to come in at 3.3% for May,

00:35as price rises cooled following a raft of bill increases the previous month.

00:41My name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.

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