Reported about 19 hours ago
UK inflation slightly decreased to 3.4% in May from 3.5% the previous month, with rising food prices, especially for chocolate, offsetting drops in airfares and transport costs. This rate remains significantly above the Bank of England's target of 2%, prompting anticipations that the Monetary Policy Committee will maintain the interest rate at 4.25% during its upcoming decision. Most economists had expected a larger decrease to 3.3%, but the continued increase in food prices has created uncertainty about future economic conditions.
Source: YAHOO