Annual rate slows in May from 3.5% in April despite record increase in chocolate prices
Inflation in the UK eased slightly to 3.4% last month as a steep fall in air fares and petrol prices was offset by a jump in the cost of food.
May’s decline in the consumer prices index (CPI), down from the official figure of 3.5% for April, complicates the Bank of England’s interest rates decision on Thursday, although policymakers are still almost certain to hold interest rates at 4.25%.
Annual rate slows in May from 3.5% in April despite record increase in chocolate pricesBusiness live – latest updatesInflation in the UK eased slightly to 3.4% last month as a steep fall in air fares and petrol prices was offset by a jump in the cost of food.May’s decline in the consumer prices index (CPI), down from the official figure of 3.5% for April, complicates the Bank of England’s interest rates decision on Thursday, although policymakers are still almost certain to hold interest rates at 4.25%. Continue reading… Inflation, Economics, Business, Bank of England, Office for National Statistics, Interest rates, UK news, Rachel Reeves, Mel Stride Business | The Guardian
