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British inflation rate returns to positive in May

Xinhua, June 16, 2015 Adjust font size:

Britain's Consumer Prices Index (CPI) rose by 0.1 percent in the year to May 2015, compared with a 0.1 percent fall in the year to April 2015, announced the Office for National Statistics (ONS) Tuesday.

The latest inflation data is in line with market estimation consensus, after Britain witnessing its first CPI drop over the year since 1960 based on comparable historic estimates.

The largest upward contribution came from transport services, notably air fares. There were also significant upward effects from food and motor fuels, said ONS.

And the largest offsetting downward effect came from recreation and culture, particularly games, toys and hobbies, as well as data processing equipment, added ONS.

The core annual inflation rate, which excludes alcohol, tobacco, food and energy prices, rose 0.9 percent on year-on-year basis, compared with a 0.8 percent growth a month earlier, data showed.

Compared to the previous month, however, British CPI increased by 0.2 percent. CPIH, an inflation gauge include consumer prices and owner occupier's housing costs, increased 0.4 percent in the 12-month to May 2015, up from 0.2 percent in April 2015, data also showed. Endit