(Finance) – They are coming UK inflation data disappointing in May 2023. According to the monthly report of the Office for National Statistics (ONS), consumer prices mark a growth of8.7% year over yearequal to the +8.7% of the previous month but higher than the +8.4% expected by analysts.
The increase in the prices of air travel, recreational and cultural goods and services and second-hand cars hand resulted in the largest contributions to the rise in annual rates of inflation, explains the ONS. Falling fuel prices were the largest contributor to the decline, while food and soft drink prices increased in May 2023, but by less than in May 2022, leading to an easing of annual tariffs.
On a monthly basis inflation recorded an increase of 0.7%after the +1.2% of the previous month (+0.5% expected).
The given core of inflation, which excludes the more volatile components such as food and fuel, rose to +7.1% against +6.8% in the previous month (+6.8% expectations). This is the highest rate since March 1992. On a monthly basis there is a +0.8% (+0.6% market expectations) and compared to the previous +1.3%.