Consumer inflation grew by 2.7% over the year to May 2013 according to a statistical bulletin on the CPI from the ONS. Transport with an increase of 0.4% compared with a fall of 0.8% last year and clothing particularly womens' outerwear with an increase of 1.2% were the main contributors to the increase. Food contributed the biggest downward pressure on the index.
The rate has returned to the levels reached during October 2012 and March 2013 after the rate slowed to 2.4% in April. The monthly rate between April and May increased to 0.2%. April and May 2012 saw a decrease of 0.1%. The government's target is still 2%.
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