In­fla­tion steady de­spite oil price

Daily Mail - - City & Finance -

IN­FLA­TION held at 2.4pc in May, de­spite surg­ing petrol prices due to ten­sions in the Mid­dle East.

Fig­ures from the Of­fice for Na­tional Sta­tis­tics show the Con­sumer Prices In­dex re­mained un­changed from April and in line with economists’ ex­pec­ta­tions.

The rise in fuel prices has been the largest since Jan­uary 2011.

Mike Hardie, head of in­fla­tion at the ONS, said: ‘Re­cent large rises in the cost of crude oil have fed through to prices paid by con­sumers at the pump.’

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