UK inflation eased to a four-year low in May largely driven by lower costs for petrol and recreational and cultural goods, adding pressure on the central bank to ease monetary policy further.
Consumer price inflation eased to 0.5 percent in May, as expected, from 0.8 percent in April, the Office for National Statistics said Wednesday.
This was the lowest since June 2016, when a similar 0.5 percent was reported. The rate was last lower, at 0.3 percent in May 2016.
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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.