The CPI for May rose by less than in April but it is still far higher than the Government target of 2%. It rose by 3.7% in April. The index was 114.4. The RPI at 223.6 rose by 5.1% down from 3.7% last month. The RPIX (RPI excluding mortgage interest payments) rose to 222.8 or by 5.1%, down from 5.4% the previous month.
The main contributory sectors to the change in the CPI were food and non-alcoholic beverages chiefly meat and in particular pork and fruit particularly grapes. Vegetables also had a small downward effect. Transport also had a downward effect as did the purchase of new cars and road passenger transport. Alcoholic beverages and tobacco, recreation and culture both had large downward effects. Books had a small upward effect. Housing and household services provided the only large upward contribution.
The RPI experienced a large downward contribution from food, fruit particularly grapes and mayonnaise and meat. Motoring expenditure and the purchase of motor vehicles made downward effects. The price of alcohol rose but by less than a year ago. Small downward contributions came from leisure services in particular foreign holidays, tobacco prices rising by less than a year ago and from household services again prices rising by less than a year ago. A small upward contribution was made by household goods where there were price rises. Furniture, in particular, kitchen base units provided the upward effect partially offset by a downward effect from furnishings.
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