UK CPI up more than expected

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Tuesday, May 16 2017

UK CPI up more than expected

The Consumer Prices Index including owner occupiers’ housing costs 12-month inflation rate was 2.6% in April 2017, up from 2.3% in March. The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since June 2013. Air fares were the main contributors to the increase in the rate in April 2017, although this balanced out a downward effect of similar magnitude in March 2017 and is due to Easter falling later than last year.

Rising prices for clothing, vehicle excise duty and electricity also contributed to the increase in the rate. These upward contributions were partially offset by a fall in motor fuel prices between March 2017 and April 2017, compared with a rise between the same 2 months a year ago. The Consumer Prices Index (CPI) 12-month rate was 2.7% in April 2017, up from 2.3% in March.

More in this category: « Euro ready to test 1.10 handle ZEW Economic Sentiment rose in May »

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