Social & Organisational Research Blog
- The Consumer Prices Index including owner occupiers’ housing costs 12-month inflation rate was 2.7% in May 2017, up from 2.6% in April.
- The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since April 2012.
- Rising prices for recreational and cultural goods and services (particularly games, toys and hobbies) was the main contributor to the increase in the rate.
- There were smaller upward contributions from increased electricity and food prices.
- These upward contributions were partially offset by falls in motor fuel prices, and air and sea fares, the latter two influenced by the timing of Easter in April this year.
- The Consumer Prices Index (CPI) 12-month rate was 2.9% in May 2017, up from 2.7% in April.