Prices rose by 4.7 per cent in the year to May, according to new figures from the Office for National Statistics. That’s a pullback from the 5.3 per cent pace in April, but is well above the decline to 3 per cent expected by economists.
As the ONS notes, “the annual growth rate has slowed since mid-2016 but has remained broadly around 5 per cent during 2017″.
Price growth came mostly from England, where it stood at 5 per cent on the year, while in Scotland the rate was 3.5 per cent.
No prizes for guessing where London is on here: