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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by Renju Jaya
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