May Inflation figures
The May inflation numbers from the Office for National Statistics (ONS) came in higher than expected, a reverse of last month’s better than expected data.
Annual CPI inflation for May 2013 was 2.7%, 0.3% up from April and back to the level at the start of the year. The index showed prices increased by 0.2% across the month, against 0.1% drop in corresponding period last year. Most forecasts had been for annual inflation to rise to 2.6%.
The RPI figure rose by 0.2% to 3.1%. Over the month the RPI increased by 0.2%, against no change a year ago.
Steve Clark