ONS | Prices economic commentary: May 2019

The 12-month growth rate of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) was 2.0% in April 2019, up from 1.8% in March 2019. The largest upward contributions to change in the 12-month rate came from increases in electricity and gas, and transport, predominantly from air fares. These upward effects were offset by downward contributions from a variety of categories including recreation and culture, alcoholic beverages and tobacco, and restaurants and hotels. 

The input Producer Price Index (input PPI) grew by 3.8% in the 12 months to April 2019, up from 3.2% in the 12 months to March 2019. Crude oil made the largest upward contribution to the 12-month growth rate of input PPI in April 2019. 

The output Producer Price Index (output PPI) grew by 2.1% in the 12 months to April 2019, down from 2.2% in the 12 months to March 2019. All product groups provided upward contributions to the 12-month growth rate of output PPI in April 2019.

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Author: The Muslim Wealth Portal

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