UK exits deflation as prices rebound for first time since October

The month of May marked the end of the UK's brief spell of negative inflation, as rising fuel costs have pushed the CPI figure above the zero mark once again.

Figures from the Office for National Statistics (ONS) show UK CPI Inflation rose 0.1% in May, a small increase from the -0.1% figure reported in April. The rise - the first time the measure has risen since October 2014 - was triggered by rising fuel costs, as the effects of the slump in the oil price begin to work themselves out of the UK economy. The ONS said the biggest contributor to the rise was an increase in air fares between April and May. Some of this difference is attributable to the timing of Easter this year compared to last, it noted. Motor fuel prices also rose by 2.5p...