Inflation figure turns positive
- Credit: PA
The UK’s brush with negative inflation came to an end after just a month as it rose to 0.1% in May, official figures have shown.
Slides in food and fuel prices have started to ease off, meaning the Consumer Prices Index (CPI) measure of inflation rose for the first time since October, according to the Office for National Statistics (ONS).
CPI had fallen to minus 0.1% in April - the first time it had been negative since 1960. The rise to a positive reading of 0.1% was in line with City expectations.
ONS statistician Philip Gooding said: “Last month CPI turned negative, mainly because of falling transport fares due to the timing of Easter. This month, that fall has been reversed.
“In addition, the falls in food and fuel costs over the last year have eased this month, helping to push inflation up.”