UK Inflation Drops to 2% in May: A Detailed Look at Price Changes Across Sectors

In May, the UK’s annual inflation rate decreased to 2%, aligning with expectations set by City economists. This measurement, tracked by the Office for National Statistics (ONS) using the Consumer Prices Index (CPI), offers a comprehensive view of how costs for various goods and services have evolved over the past year. Here, we break down the percentage changes in average prices across different categories from May of the previous year.

Food Prices
Food items have seen varied changes:
– Olive oil: +39.1%
– Sugar: +7.9%
– Sauces and condiments: -0.8%
– Pork: +1.2%
– Pasta products and couscous: +0.4%
– Vegetables: +2.5%
– Eggs: +2.5%
– Fruit: +2.6%
– Ready-made meals: +3.8%
– Cheese and curd: -3.9%
– Bread: +1.9%
– Fish: -3.1%
– Jams, marmalades, and honey: -6.2%
– Low-fat milk:** -2.8%
– Butter: -4.4%
– Whole milk: -5.5%

Beverage and Tobacco Prices
Drinks and tobacco products experienced notable increases:
– Cocoa and powdered chocolate: +19.5%
– Fruit and vegetable juices: +1.6%
– Mineral or spring waters: +4.5%
– Tea: +9.8%
– Soft drinks: +3.4%
– Coffee: -0.4%
– Beer: +5.6%
– Wine: +6.2%
– Spirits: +5.7%
– Tobacco: +9.8%

Energy Costs
Energy prices have shown significant reductions, particularly in gas and electricity:
– Electricity: -21%
– Gas: -37.5%
– Solid fuels: -2.5%
– Liquid fuels: +7%

Clothing and Footwear Prices
Clothing and footwear costs have slightly increased:
– Garments for infants and children: +2.6%
– Garments for women: +3.5%
– Garments for men: +3.4%
– Footwear: +1.1%

Household Items and Furniture
Household goods have experienced mixed price movements:
– Cookers: -3.6%
– Carpets and rugs: +0.2%
– Garden furniture: -22.4%
– Lighting equipment: +0.5%
– Household furniture: -2.7%

Transportation Costs
Transportation costs have fluctuated, with significant changes in second-hand car prices and air travel:
– Bus and coach fares: +8.4%
– Sea and inland waterway transport: +12.4%
– Air travel: -2.1%
– Train travel: +6.3%
– New cars: +1.8%
– Bicycles: -1%
– Motorcycles: -2.8%
– Second-hand cars: -11.2%
– Petrol: +3.1%
– Diesel: +1.1%

Hospitality and Recreation
The hospitality and recreational sectors have seen overall price increases:
– Holiday centres, campsites, and youth hostels: +12.2%
– Restaurants and cafes: +5.9%
– Museums: +7.1%
– Fast food and takeaway services: +5.6%
– Cinemas, theatres, and concerts: +7.6%
– Hotels and motels: +6.6%

Other Recreational Items
Other recreational goods and services have had varied changes:
– Veterinary and other pet services: +9.3%
– Garden products: +1.8%
-Products for pets: -5.1%
– Games, toys, and hobbies: -2.7%

The data reveals a complex picture of the UK’s economy, with substantial fluctuations in individual sectors. While the overall inflation rate has stabilized, the variations in specific categories highlight the diverse economic pressures facing consumers.