UK inflation slowed to the central bank target in May, thanks to lower costs for air travel and falling car prices, data from the Office for National Statistics showed Wednesday.
Consumer price inflation hit the Bank of England's target of 2 percent in May versus 2.1 percent in April. The rate also matched economists' expectations.
The annual decline was largely driven by easing fares for transport services, particularly air fares due to the timing of Easter and falling car prices. Partially offsetting, upward contributions came from higher costs of range of games, toys and hobbies.
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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.