Inflation rises again to new 40-year high

The rate of inflation rose again in May, remaining at 40-year highs, according to the Office for National Statistics (ONS).

The rate of consumer prices index (CPI) inflation rose from 9% in April to 9.1% in May, matching what analysts had expected.

“Though still at historically high levels, the annual inflation rate was little changed in May,” said ONS chief economist Grant Fitzner.