UK consumer price inflation softened in May as the slowdown in transportation costs was largely offset by the rise in food prices and reinforced expectations that the Bank of England will maintain the interest rate steady this week.
The consumer price index registered an annual increase of 3.4 percent, slightly slower than the 3.5 percent rise seen in April, the Office for National Statistics revealed on Wednesday. However, this was slightly above the forecast of 3.3 percent.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.