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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

June 17, 2020
UK CONSUMER PRICE INDEX, MAY 2020

 

In May 2020, the CPIH rose by 0.7 per cent from the same month in 2019, down from the 0.9 per cent year-over-year increase last month.  Falling pries for motor fuel and a variety of recreation and cultural goods had the largest downward contributions to the change in the 12 month inflation rate between April and May. Rising prices for food and non-alcoholic drinks had an upward contribution to the inflation rate. Year-over-year growth in the Consumer Price Index excluding owner occupiers' housing costs (CPI) was 0.5 per cent. 

The UK Office for National Statistics (ONS) reported that for May 2020, 74 items of Consumer Price Index including owner-occupiers' housing costs (CPIH) (or 14.2 per cent of the CPIH basket by weight) were unavailable to consumers in the UK due to COVID-19 pandemic compared with February 2020 Index. This was down from 90 unavailable items in April .

The UK inflation rate has declined in recent years, from a period in 2017 when it was over 2.5 per cent to around 1.5 per cent at the end of 2019. In 2020, inflation in the UK has fallen further, but to a lesser extent than the decline for inflation in Canada.

 

Sources: United Kingdom Office for National Statistics Statistical bulletin, Annual growth - CPIAnnual growth - CPIH

Statistics Canada.  Table  18-10-0004-01   Consumer Price Index, monthly, not seasonally adjusted



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