News on costs and prices has been mixed. Oil prices fell in May and, like me, you may have noticed the price of petrol at the pumps declining slightly; however, there is the risk that the combination of continuing supply tightness combined with buoyant international demand will lead to renewed upward pressure. In any case families will have to face increased domestic gas and electricity prices, following the rise in oil prices earlier in the year. Other commodity prices have fallen slightly since the start of the year, despite being still nearly thirty-five per cent higher than a year.
