UK inflation softened in May as higher prices in housing and household services were offset by falling fares for transport services and car prices.
The Consumer Prices Index rose by 2% in the 12 months to May, down from 2.1% in the previous month, according to the Office for National Statistics (ONS). Meanwhile, CPIH, a measure which includes housing costs, also fell from 2% to 1.9%. 'Egg-flation' and our Easter shopping The fall was mainly attributed to a 3.8% fall in transport fares, which the ONS said was a result of the "the timing of Easter", while there was a slight downward contribution from alcoholic beverages and tobacco. This offset price rises across the economy, with housing and household services providing the lar...
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