![]() ![]() Short-term movements in live music fees and computer game prices should be interpreted with a degree of caution as these movements depend upon the acts that are touring and the composition of bestseller charts respectively.ĭownload this chart Figure 3: Annual inflation rate for food and non-alcoholic beverages eases slightly Image The largest came from cultural services (particularly admission fees to live music events) games, toys and hobbies (particularly computer games) and package holidays. The increase in the annual rate between April and May 2023 was the result of small upward effects from a variety of the more detailed classes. Prices for recreational and cultural goods and services rose, overall, by 6.8% in the year to May 2023, up from 6.4% in April, and the highest rate since August 1991. Source: Consumer price inflation from the Office for National Statistics Download this table Table 2: CPIH annual and monthly inflation rates by division. Table 2: CPIH annual and monthly inflation rates by divisionĬPIH exc food, energy, alcohol and tobacco (core CPIH) Section 3: Notable movements in prices covers both CPIH and CPI, though the figures reflect CPIH. This makes CPIH our most comprehensive measure of inflation, and it is covered in more detail in Section 4: Latest movements in CPIH inflation in this bulletin, while Section 5: Latest movements in CPI inflation provides commentary on the CPI. However, the owner occupiers' housing costs (OOH) component accounts for 16% of the CPIH and is the main driver for differences between the CPIH and CPI inflation rates. The main drivers of the annual inflation rate for CPIH and CPI are the same where they are common to both measures. The monthly rate in May 2023 was 0.7%, the same as in May last year. Our indicative modelled consumer price inflation estimates suggest that the October 2022 peak was the highest annual inflation rate since 1981 (the CPI National Statistic series begins in January 1997). ![]() The Consumer Prices Index (CPI) rose by 8.7% in the 12 months to May 2023, unchanged from April but down from a recent peak of 11.1% in October 2022. The monthly rate in May 2023 was 0.6%, the same as in May last year. Indicative modelled consumer price inflation estimates suggest that the October 2022 rate was the highest in over 40 years (the CPIH National Statistic series begins in January 2006). The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 7.9% in the 12 months to May 2023, up from 7.8% in April but down from a recent peak of 9.6% in October 2022. csvĭownload this chart Figure 1: Annual CPIH and CPI inflation rates little changed between April and May 2023 Image Source: Consumer price inflation from the Office for National Statistics Download this table Table 1: CPIH, OOH component and CPI index values, and annual and monthly rates. Table 1: CPIH, OOH component and CPI index values, and annual and monthly rates Core CPI (excluding energy, food, alcohol and tobacco) rose by 7.1% in the 12 months to May 2023, up from 6.8% in April, and the highest rate since March 1992 the CPI goods annual rate eased from 10.0% to 9.7%, while the CPI services annual rate rose from 6.9% to 7.4%.Core CPIH (excluding energy, food, alcohol and tobacco) rose by 6.5% in the 12 months to May 2023, up from 6.2% in April, and the highest rate for over 30 years the CPIH goods annual rate eased from 10.0% to 9.7%, while the CPIH services annual rate rose from 6.0% to 6.3%.Falling prices for motor fuel led to the largest downward contribution to the monthly change in CPIH and CPI annual rates, while prices for food and non-alcoholic beverages rose in May 2023 but by less than in May 2022, also leading to an easing in the annual rates.Rising prices for air travel, recreational and cultural goods and services, and second-hand cars resulted in the largest upward contributions to the monthly change in both the CPIH and CPI annual rates. On a monthly basis, CPI rose by 0.7% in May 2023, compared with a rise of 0.7% in May 2022. The Consumer Prices Index (CPI) rose by 8.7% in the 12 months to May 2023, unchanged from April. On a monthly basis, CPIH rose by 0.6% in May 2023, compared with a rise of 0.6% in May 2022.The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 7.9% in the 12 months to May 2023, up from 7.8% in April. ![]()
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