UK inflation stays at 2.8% as slowing food prices offset rising transport costs

Surprise ONS figure confounds forecasts of an increase to 3% as Bank of England prepares to set interest rates UK inflation unexpectedly remained at 2.8% last month as higher transport and fuel costs were offset by slower food price rises. May’s a...

Surprise ONS figure confounds forecasts of an increase to 3% as Bank of England prepares to set interest ratesUK inflation unexpectedly remained at 2.8% last month as higher transport and fuel costs were offset by slower food price rises.May’s annual price rise reading recorded by the Office for National Statistics (ONS) came despite economists’ forecasts of a rise to 3% as the Middle East restricted global energy flows. Continue reading...