Furniture and household goods prices rose marginally as UK inflation rises in the year to May 2016.
According to the latest figures from the Office for National Statistics, the Consumer Prices Index (CPI) rose to 0.3% in May 2016 compared to last year, remaining unchanged from April.
Within the sectors, furniture and household goods saw inflation rise from -0.02% in May 2015 to 0.01% in May 2016.
Stated within the ONS report, Philip Gooding highlighted: “The CPI 12-month rate between May 2015 and May 2016 stood at 0.3%. This means that a basket of goods and services that cost £100.00 in May 2015 would have cost £100.30 in May 2016.
“With the exception of March, when the rate was influenced by the timing of Easter, headline inflation has been 0.3% for all months of 2016. This follows 2015, which was a year of historically low inflation, with the rate being at or around zero for much of the year.”