MADRID, 21 Jun. (EUROPA PRESS) -

The year-on-year inflation rate in the United Kingdom stood at 8.7% last May, in line with the rise in prices registered in April, as reported on Wednesday by the British National Statistics Office (ONS, for its acronym in English).

In the fifth month of 2023, the year-on-year increase in the price of food and non-alcoholic beverages was 18.3%, compared to the 19% increase in the previous month.

Thus, the underlying CPI, which excludes the volatility of energy, food, alcohol and tobacco prices, accelerated in May to 7.1% three tenths more than in April and its highest level since March 1992.

In monthly terms, prices registered an increase of 0.7% in the fifth month of the year, compared to the rise of 1.2% in April.

The Monetary Policy Committee of the Bank of England will meet tomorrow, after in its previous meeting it decided to raise the reference interest rate for its operations by 25 basis points, up to 4.5%, its highest level since autumn 2008, thus extending to twelve consecutive meetings the sequence of increases in the price of money.