Inflation jumps to 3.0%

Higher gas and electricity bills and dearer fuel have helped to push inflation higher. Inflation under the Retail Prices Index (RPI) rose to 3.0% in the year to May from 2.6% the previous month.

The Consumer Prices Index (CPI), which excludes housing costs and is the government’s preferred measure, also saw an increase: it rose from 2.0% to 2.2%.