The inflation rate in the UK rose to 9.1 percent in May, remaining at 40-year highs and deepening the squeeze on households, latest data show.
According to the Office for National Statistics (ONS), the rate of consumer prices index inflation rose from 9 percent in April to 9.1 percent in May—the highest since early 1982—largely driven by food and non-alcoholic beverages, transport and housing, water, electricity, gas, and other fuels.
“Though still at historically high levels, the annual inflation rate was little changed in May,” said ONS Chief Economist Grant Fitzner.
“Continued steep food price rises and record high petrol prices were offset by clothing costs rising by less than this time last year, and a drop in often fluctuating computer games prices….