UK inflation It is expected to slow down in May as prices have stabilized after the increase in the bill in April, the economists have suggested.
According to analysts, inflation of the Consumer Price Index (CPI) is expected to fall from 3.5% to 3.3% in May. The National Statistics (ONS) for the office stated that an error in vehicle tax data meant that the CPI rate of April should have been 3.4%, but it was not modifying the official figure.
Deagal would mean that prices were still growing in May, but at a slow rate compared to April when several bills for homes increased. The energy price cap fixed by Orade increased by 6.4% in April, resulting in a distinctive domestic £ 9.25 per month to increase. There was also an increase in water fee, council tax, mobile and broadband tariffs and TV licenses.
Economists hope that the price will increase in May, resulting in a recession in overall inflation rate. Sanjay Raja, senior economist at Dutash Bank, said he was expecting to reduce inflation in transport services last month after jumping during the Easter holidays in April.
He estimates the fall in air fare in May compared to April, as well as some trains and coach travel costs, while the package holiday prices have also declined.
Mr. Sanjay said that food inflation is prescribed for “steam lifting” in May, especially due to the increase in the prices of fresh food, while it is also estimating the increase in the prices of clothing and furniture after the sale of Easter.
Oil prices have been rising in recent times as Israel started an attack on Iran’s nuclear program, creating anxiety that rawness supply from the Middle East could be interrupted. Increasing oil prices can threaten to increase inflation in the UK, as the cost is one of the low-low energy costs, which is the largest contributor to the total inflation falling from the peaks during the cost-living crisis.
ONS will publish its latest inflation figures on Wednesday.