UK inflation jumps to 2.1% in May

Fastest pace of growth since July 2019

Pedro Gonçalves
clock • 4 min read
The pickup reflected higher prices for fuel, clothing and recreational goods
Image:

The pickup reflected higher prices for fuel, clothing and recreational goods

British consumer price inflation jumped to 2.1% in May from 1.5% in April, exceeding the Bank of England's 2% target for the first time in almost two years.

Figures from the Office for National Statistics (ONS) showed the annual pace of price growth - as measured by the consumer prices index (CPI) - rose 2.1% on the year in May, the fastest pace of growth...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Tap into our community intelligence through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

S&P 500 and Nasdaq slipped by 0.9% and 1.8% respectively

Markets braced for volatility as growth slowdown looms

Rough few days

clock 17 November 2021 • 3 min read
Sterling rose against the euro to its strongest level since February 2020

Bank of England 'showdown' on inflation imminent

Inflation rises to 4.2% in October

Georgie Lee
clock 17 November 2021 • 3 min read
Core CPI inflation reached 3.4%, up from 2.9% in September, with CPIH inflation rising to 3.8% from 2.9%.

UK inflation reaches highest level in a decade at 4.2%

Overshot market expectation of 3.9%

clock 17 November 2021 • 2 min read