Despite transport cost pressures, UK consumer price inflation remained stable in May, ahead of the Bank of England's policy announcement on Thursday.
Consumer prices registered an annual increase of 2.8 percent, the same rate as seen in April, the Office for National Statistics said Wednesday. Prices were expected to climb 3.0 percent.
Meanwhile, core inflation rose to 2.6 percent from 2.5 percent in the previous month. Nonetheless, the rate was slightly below forecast of 2.7 percent.
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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.