UK CPI rises by 9.1 per cent in 12 months to May 2022

Indicative modelled consumer price inflation estimates suggest that CPI would last have been higher around 1982, where estimates range from nearly 11 per cent in January down to approximately 6.5 per cent in December.

There was an offsetting downward contribution of 0.08 percentage points to the change in the rate from clothing and footwear. Prices of clothing and footwear rose by 1.1 per cent this year but rose by a larger 2.3 per cent a year ago, the data showed.

Last year’s rise in prices of clothing and footwear was higher than usual for the time of year. It was influenced by a large fall in the amount of discounting recorded in the dataset as the country continued to open following the coronavirus (COVID-19) lockdown in the first quarter of 2021. The effect came from women’s clothing and, to a lesser extent, men’s clothing and footwear.

ALCHEMPro News Desk (DS)