In May this year, consumer prices in the UK jumped by 9.1% compared to the same month last year, according to data from the country’s National Statistical Office (ONS).

Thus, inflation accelerated compared to April, when it amounted to 9%, and updated the maximum for more than 40 years.

Analysts polled by Bloomberg also on average forecast May inflation at 9.1%.

Consumer prices rose 0.7% from the previous month after jumping 2.5% in April. Experts on average expected an increase of 0.6%.

The increase in inflationary pressures in the UK is mainly due to higher prices for food and energy, including electricity, gas and gasoline, the ONS said.

Prices excluding food, alcohol, tobacco and energy (core inflation, CPI Core) in May rose by 5.9% year-on-year and by 0.5% relative to the previous month. In April, they rose by 6.2% and 0.7%, respectively.

Retail prices (RPI index) soared by 11.7% in annual terms after growing by 11.1% a month earlier. It is the RPI index that is used by British employers in salary negotiations. The difference in the dynamics of CPI and RPI indexes is due to the inclusion of housing costs in RPI, as well as the different weighting of airfares, insurance and gasoline prices. Compared to the previous month, the RPI index increased by 0.7% (3.4% in April).