UK inflation hits 40-year high of 9.1% in May

Up from 9% in April

Elliot Gulliver-Needham
clock • 3 min read

UK inflation has hit another 40-year high of 9.1% in May, up from 9% in April.

The slight increase from already record high inflation rate came largely from rising food and non-alcoholic beverage prices, as well as continued shifts in energy prices, according to the Office for National Statistics (ONS). Average petrol and diesel prices last month were the highest on record, the ONS said, reaching 165.9p per litre for petrol, compared with 127.2p a year earlier. The 12-month rate for motor fuels was 32.8%, the highest since before the start of the data series in January 1989. The ONS stated that inflation "would last have been higher around 1982, where estimates ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read
More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read