A shopper carries food from a branch of British food retailer Aldi in London on February 9, 2013. British 12-month inflation accelerated to 2.7 percent in May, rebounding from a seven-month low point struck in April, official data showed on Tuesday. (AFP/File)
LONDON, United Kingdom (AFP) – British 12-month inflation accelerated to 2.7 percent in May, rebounding from a seven-month low point struck in April, official data showed on Tuesday.
Analysts' consensus forecast had been for a rise in the 12-month rate to 2.6 percent according to Dow Jones Newswires.
"The Consumer Prices Index (CPI) grew by 2.7 percent in the year to May 2013, up from 2.4 percent in April," the Office for National Statistics said in a statement.
"The largest upward contributions to the change in the rate came from transport, notably air transport and motor fuels, and clothing. The largest downward contribution came from food," the ONS added.
On a month-on-month basis, the CPI rose 0.2 percent in May. Analysts had forecast a gain of 0.1 percent.
The Bank of England's main task is to use monetary policy as a tool to keep annual inflation close to a government-set target level of 2.0 percent, in order to preserve the value of money.
However, the annual CPI rate has held stubbornly above the target since November 2009.
Britain is a member of the European Union but not of the eurozone, so retains control over its central bank monetary policy.
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