UK inflation unexpectedly stays at 2.8% with higher transport costs offset by slower food price rises – business live
Food prices rose at the slowest rate since December 2024 with declines in inflation for meat, cheese, vegetables and cheeseTransport costs rose at an annual rate of 6.8%, up from 4.5% in April and the highest since December 2022.The main effects came from air fares, motor fuels, and sea fares, together with the correction of an error in the Vehicle Excise Duty (VED) series in 2025.Inflation held steady in May as various price movements offset each other. The main upward movement came from transp
UK inflation unexpectedly stays at 2.8% with higher transport costs offset by slower food price rises – business live
Overview
Food prices rose at the slowest rate since December 2024 with declines in inflation for meat, cheese, vegetables and cheese
Transport costs rose at an annual rate of 6.8%, up from 4.5% in April and the highest since December 2022.
The main effects came from air fares, motor fuels, and sea fares, together with the correction of an error in the Vehicle Excise Duty (VED) series in 2025.
Inflation held steady in May as various price movements offset each other. The main upward movement came from transport, with air fares, vehicle taxes and petrol prices all pushing up inflation.
Details
These were offset by lower food prices, with decreases in inflation seen across a range of meat, dairy and vegetable items compared to last month, as well as the cost of domestic heating oil, which fell back after climbing in recent months.
While the war in the Middle East pushes prices up globally, we have got the right economic plan and inflation has held steady.
We’re protecting families and businesses from rising costs, with cuts in energy bills and freezes in fuel duty and rail fares. This is the right economic plan to build a stronger more secure Britain.
Continue reading...Source
Originally published at www.theguardian.com.
