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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.