Latest inflation figures
And so, inflation continues to alter. In the UK price inflation, as measured by the Consumer Prices Index (CPI), has dropped to 3.4% for the year to May with falls in the prices of food, non-alcoholic drinks and petrol. This is a fall from 3.7% and is bigger than expected.
CPI annual inflation – the Government’s target measure – was 3.7% in April, up from 3.4% in March. The largest factors to the change in the CPI annual rate between March and April came from the rise in prices for clothing and footwear, food and non-alcoholic beverages and alcoholic beverages and tobacco.
Why are house prices still rising?
It’s no surprise to hear that the country’s finances are ‘in a mess’. It is surprising to learn that house prices continued to rise in May and are now just 9.5% below the October 2007 peak, according to figures from Nationwide.