World Economy

CPI Rises in UK

CPI Rises in UKCPI Rises in UK

UK inflation is expected to have improved slightly in May as oil prices recover, DigitalLook reported. The consumer price index for May, released on Tuesday, is forecast to rise 0.4% year-on-year, up from April’s 0.3%. Core CPI, which excludes food and energy prices, is projected to have increased by an annualized 1.3% in May following a 1.2% gain in April. Headline inflation remains well below the Bank of England’s 2% target due to ongoing falls in energy and food prices.