Finance News

British inflation stands at 2.0 pct in May

The British Consumer Prices Index (CPI) in May stood at 2.0 percent, down from 2.1 percent in April, according to figures released Wednesday by the Office for National Statistics (ONS).
ONS said that the decreasing transport services fares and car prices were the largest downward contributions.
"Inflation eased in May, as travel prices such as air fares fell back after their Easter highs in April," said Mike Hardie, head of inflation in ONS.
"The overall rate of inflation has remained steady since the beginning of the year," he said.
Meanwhile, data showed that the house prices across Britain grew by 1.4 percent in the year to April 2019, compared with the same period a year ago.
Figures showed that the lowest annual growth was in London, with average house prices falling by 1.2 percent over the year to April 2019.
"Over the past three years, there has been a general slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England," ONS said.
The average house price in Britain was 229,000 pounds (about 287,836 U.S. dollars) in April 2019.

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