Inflation unchanged

Both the Consumer Prices Index (CPI) and the Retail Prices Index (RPI) remained unchanged last month. The Office for National Statistics (ONS) reported that CPI remained at 4.5% whilst RPI, which includes the cost of borrowing, stayed at 5.2%. Fuel and food prices, including the cost of alcoholic drinks were among the main contributors. Over the past year fuel prices have risen by 13.7% with alcohol and tobacco rising by 9.8% over the same period. Whilst the figures were in line with market expectations and they come on the back of sharp rises in April. The Bank of England expects inflation to rise ...