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Bristol Post
Bristol Post
Business
Steven Smith

Inflation stagnates at 8.7 per cent as figure is unchanged in latest update

The rate of Consumer Prices Index inflation remained unchanged at 8.7% in May, the Office for National Statistics has said. Analysts had predicted that the figure would fall slightly.

The news is likely to increase fears from borrowers that the Bank of England will increase interest rates again on Thursday as it tightens the screw to get inflation down.

The ONS said rising prices for plane tickets, recreational and cultural goods and services and second-hand cars added the most to inflation. Costs for motor fuel fell, the ONS said, putting the biggest downward pressures on inflation.

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