Brexit manufacturing bounce 'well and truly over' as inflation falls to 2% in May

Latest ONS figures

UK inflation softened in May as higher prices in housing and household services were offset by falling fares for transport services and car prices.

The Consumer Prices Index rose by 2% in the 12 months to May, down from 2.1% in the previous month, according to the Office for National Statistics (ONS). Meanwhile, CPIH, a measure which includes housing costs, also fell from 2% to 1.9%. 'Egg-flation' and our Easter shopping The fall was mainly attributed to a 3.8% fall in transport fares, which the ONS said was a result of the "the timing of Easter", while there was a slight downward contribution from alcoholic beverages and tobacco. This offset price rises across the economy, with housing and household services providing the lar...