Inflation in the UK saw a slight decrease in May. The Office of National Statistics reported a 3.4% rise in consumer prices. This figure is still above the Bank of England’s 2% target. Air fares and transport costs decreased, but food prices increased. Economists anticipate the Bank of England to maintain its interest rate. Geopolitical uncertainty makes economic forecasting difficult.
Source link
UK inflation eases by less than anticipated ahead of Bank of England rate decision
