UK consumer prices logged a steady growth rather than a slowdown in May and core inflation accelerated further adding pressure on the Bank of England to raise the benchmark rate by half a percentage point.
Consumer price inflation remained unchanged at 8.7 percent in May, the Office for National Statistics reported Wednesday. The rate was forecast to ease to 8.4 percent.
The upward contributions to inflation from rising prices of air travel, recreational and cultural goods and services, and second-hand cars were largely offset by falling prices for motor fuel.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.