The UK’s Consumer Prices Index (CPI) rose by 9.1 per cent in the 12 months to May 2022, up from 9 per cent in April, according to the Office of National Statistics (ONS). This is the highest CPI 12-month inflation rate in the National Statistic series, which began in January 1997.
Indicative modelled consumer price inflation estimates suggest that CPI would last have been higher around 1982, where estimates range from nearly 11 per cent in January down to approximately 6.5 per cent in December.
There was an offsetting downward contribution of 0.08 percentage points to the change in the rate from clothing and footwear. Prices of clothing and footwear rose by 1.1 per cent this year but rose by a larger 2.3 per cent a year ago, the data showed.
The Consumer Prices Index (CPI) rose by 9.1 per cent in the 12 months to May 2022, up from 9 per cent in April, according to the ONS. Indicative modelled consumer price inflation estimates suggest that CPI would last have been higher around 1982, where estimates range from nearly 11 per cent in January down to approximately 6.5 per cent in December.
Last year’s rise in prices of clothing and footwear was higher than usual for the time of year. It was influenced by a large fall in the amount of discounting recorded in the dataset as the country continued to open following the coronavirus (COVID-19) lockdown in the first quarter of 2021. The effect came from women’s clothing and, to a lesser extent, men’s clothing and footwear.
Fibre2Fashion News Desk (DS)
