6/22, 8:00 AM (Source: TeleTrader)
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UK inflation up to 9.1% in May, highest in 40 years

The United Kingdom's Consumer Price Index (CPI) increased by 9.1% in May in comparison to the same period a year prior, the Office for National Statistics revealed in its report on Wednesday. "Indicative modelled consumer price inflation estimates suggest that CPI would last have been higher around 1982," it was noted in the report.

On a monthly basis, consumer prices were up 0.7% in May, while the Consumer Prices Index including owner occupiers’ housing costs (CPIH) climbed 7.9% year on year and 0.6% compared to the previous month.

Meanwhile, the producer input and output price rates saw annual growths of 22.1% and 15.7% in May, respectively, with food products, and metals and non-metallic minerals providing the most significant upward contributions. Month on month, the output data rate was up by 1.6%, and the input figure rose 2.1%.

Baha Breaking News (BBN) / AY