Inflation rising

Posted on 16 Mar 2022
Share Blog Post
Inflation climbs to 2.1% in MayThe UK inflation rate jumped to 2.1% in the year to May, with this ahead of the Bank of England’s (BoE) target of 2% and the highest level for almost two years. Data from the Office for National Statistics (ONS) shows that the Consumer Prices Index (CPI) rose from 1.5% in April, with rising clothing and fuel prices driving the rate higher. The 2.1% rate recorded in May exceeds analysts’ expectations, with economists having forecast a rate of about 1.8%. Core inflation, which excludes the price of food and energy, rose to 2% in the 12 months to May. The BoE has said it expects inflation to hit 2.5% by the end of 2021 as the economy reopens following lockdown restrictions, forecasting that any climb above 2% will be temporary.

View more blog posts

Plea to simplify tax
Posted on 17 Jul 2024
Plea to simplify tax
read more
New National Wealth Fund launched
Posted on 10 Jul 2024
New National Wealth Fund launched
read more
Tax freezes hit hard
Posted on 03 Jul 2024
Tax freezes hit hard
read more
IHT rises relentlessly
Posted on 26 Jun 2024
IHT rises relentlessly
read more
Back To Top
01604 660661