UK inflation unexpectedly stays at 2.8% as food price falls offset transport costs
Key takeaways
- Photograph: Kevin Wheal/Alamy View image in fullscreen The Iran conflict has driven up fuel prices.
- Prefer the Guardian on Google UK inflation unexpectedly remained at 2.8% last month as higher transport and fuel costs were offset by slower food price rises, official figures have shown.
- May’s annual price rise reading recorded by the Office for National Statistics came despite the feared impact of the Middle East conflict on energy prices and confounded economists’ forecasts of a rise to 3%.
Why this matters: a developing story that could shape the day's news cycle.
The Iran conflict has driven up fuel prices. Photograph: Kevin Wheal/Alamy View image in fullscreen The Iran conflict has driven up fuel prices. Photograph: Kevin Wheal/Alamy Inflation UK inflation unexpectedly stays at 2.8% as food price falls offset transport costs Flatlining figure confounds forecasts of an increase to 3% as Bank of England prepares to set interest rates
Prefer the Guardian on Google UK inflation unexpectedly remained at 2.8% last month as higher transport and fuel costs were offset by slower food price rises, official figures have shown.
May’s annual price rise reading recorded by the Office for National Statistics came despite the feared impact of the Middle East conflict on energy prices and confounded economists’ forecasts of a rise to 3%.