Inflation increased in May again with CPI rising to 2.9% (2.7%) and RPI to 3.7% (3.5%).
CPIH rose by just 0.1% to 2.7%. The ONS analysis of the changes said:
- 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 full ONS report can be found here.