We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue
Secured Loans > UK inflation rate no longer negative

UK inflation rate no longer negative

6th June 2015 | Published by Evolution Money

deflation-image-250x156The rate of inflation has turned positive after only one month of negative inflation.

The Consumer Price Index (CPI) measured inflation in the UK at 0.1 per cent in May, up from -0.1 per cent in April.

The rise of 0.2 per cent was largely due to transport costs, particularly air fares, according to the Office for National Statistics (ONS). The drop to negative inflation in April was caused largely by a fall in sea and air fares and was the first time inflation turned negative in 55 years.

Food and fuel prices also rose in May, although they were still less than one year ago.

ONS statistician, Philip Gooding, and senior economist at Hargreaves Lansdown, Ben Brettell, both said that the timing of Easter this year was in part responsible for the negative inflation figures for April. Ben Brettell said that falling air fares around the Easter break pushed CPI inflation down in comparison with twelve months ago. Now that those factors have altered, inflation has returned to its previous levels.

The Consumer Price Index measures the weighted average of prices of a range of consumer services and goods, such as medical care, food and the cost of transport. The goods and services are weighted according to their significance. The CPI is a calculation of the average of all the price variations month on month.

A second method of measuring inflation, the Retail Price Index (RPI), also rose in May, up from 0.9 per cent the previous month to 1 per cent. The RPI includes the cost of housing.

Governor of the Bank of England, Mark Carney, has said that he expects inflation to remain low and that an inflation rate that is close to zero will help UK households by increasing their spending power.

Category: Money
This post was written by Evolution Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoWe are a member of the FLA (Finance and Leasing Association) and subscribe to its lending code.


Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
M1 3BE

Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 9 Portland Street, Manchester, M1 3BE. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2022 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice | Sitemap
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution