Video game price falls hold inflation steady at 2.4% in May

Energy costs rising by less than this time last year

UK inflation held steady at 2.4% in May, missing analysts estimates of a move higher and further cooling expectations on an interest rate hike from the Bank of England this summer.

The Office for National Statistics reported the Consumer Price Index remained at 2.4% in May, after falling from 2.5% in April and a year-peak of 3.1% in November 2017, prompting a fall in sterling. The pound fell 0.34% against the US dollar to $1.3326 shortly after the announcement, and is also down 0.37% against the euro. According to the Financial Times, economists had expected rising crude oil prices would feed into higher transport costs for consumers, lifting inflation higher. However, the price of recreational and cultural goods did not rise by as much as this time last year, d...