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June 13, 2018UK CONSUMER PRICE INDEX, MAY 2018 In May 2018, the UK Consumer Price Index including owner-occupiers' housing costs (CPIH) rose by 2.3 per compared with May 2017. This is slightly faster than the 2.2 per cent reported in the 12 months through April 2018. Rising prices have been observed across most categories, but the largest contributions to rising UK inflation came from transport costs.
Growth in the Consumer Price Index excluding owner occupiers' housing costs (CPI) has been slightly faster at 2.4 per cent, the same year-over-year pace as reported in April.
UK inflation has been more volatile than prices in Canada. Over the last year UK prices rose substantially faster than those in Canada, but in recent month, price growth has been similar for the two countries.
Note: The UK has recently expanded the commentary on the consumer price index to include owner occupiers' housing costs (CPIH). This includes the costs associated with owning, maintaining and living in one’s own home, known as owner occupiers’ housing costs (OOH), along with Council Tax. Both of these are significant expenses for many households and are not included in the more narrow Consumer Price Index (CPI). CPIH was re-designated as a National Statistics on 31 July 2017. More information on the CPIH can be found here.
Source: United Kingdom Office for National Statistics Statistical bulletin: CPI, UK: May 2018, Statistics Canada CANSIM 326-0020
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