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6/16, 8:01 AM (Source: TeleTrader)
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UK's consumer inflation surges to 2.1% in May

The consumer prices in the United Kingdom yearly grew by 2.1% in May, increasing from 1.6% seen in April and beating market estimates. The Consumer Price Index on a monthly basis rose a modest 0.6%.

According to the report published by the Office for National Statistics on Wednesday, transport provided the largest upward contribution to the Consumer Prices Index, followed by clothing, motor fuel, recreational goods as well as meals and drinks consumed outside. On the other hand, the largest downward contribution came from food and non-alcoholic beverages.

Meanwhile, the producer prices in the UK annually climbed by better-than-expected 4.6% in the same month.

Breaking the News / ND