UK inflation falls to 2.8%
Inflation continues its downward path, falling to 2.8 per cent in May from 3 per cent in April.
The UK’s consumer price index (CPI) measure of inflation fell from 3 per cent in April to 2.8 per cent in May, according to official statistics.
The Office for National Statistics (ONS) said the fall was driven by declines in the prices of motor fuels, food and non-alcoholic beverages.
The figure marks a second consecutive inflation fall, after it rose slightly in March from 3.4 per cent in February to 3.5 per cent. This came after inflation had fallen steadily in the previous months from highs of over 5 per cent late last year.
The UK’s retail prices index (RPI) measure of inflation fell to 3.1 per cent, down from 3.5 per cent in April. Again, the ONS said the fall was due to a fall in petrol and oil and food.