FXstreet.com (Barcelona) - Consumer prices growing pace continues accelerating in the United Kingdom in May, at levels well above the upper limit of the Bank of England's margin for price stability, same accounts for the retail prices, according to the latest report bu National Statistics.
Prices at consumer level have increased 3.3% on the year in May, up from the 3.0% rise they posted from April 2007 to April 2008. The monthly increase has been a 0.6%, somewhat milder, in this case, than the 0.8% increase posted in April.
Food and non alcoholic beverages were the major inflationary contributor; 7.8% up year on year, followed by the 6.3% yearly increase in housing and household services, as a result of higher prices for gas, electricity and heating oil.
Excluding food and energy, the so called Core CPI rose 0.3% on the month, and 1.5% year on year.
Retail prices have increased 4.3% in May, following a 4.2% yearly rise in April, being food, again, the major contributor, followed by gas andelectricity.