17th Jun 2008 - 00:00
Abstract
The Consumer Prices Index (CPI) has announced that annual inflation was up 3.3% in May, up from 3.0% in April.
As an internationally comparable measure of inflation, the CPI shows that the UK inflation rate in April, at 3.0 per cent, was below the provisional figure for the European Union as a whole of 3.6 per cent. The Bank of England governor will now write a letter to Gordon Brown explaining why inflation has risen and the steps the bank is taking to balance the economy.