The UK annual Consumer Prices Index (CPI) stood at 3.4% in May, down 0.1 percentage points from April’s figures.
According to data from the Office for National Statistics today (18 June), on a monthly basis CPI rose by 0.2% while core CPI – excluding energy, food, alcohol and tobacco – went up by 3.5% in the 12 months to May, down from 3.8% a month before. Concerns about UK inflation see tepid decline in May But UK services CPI remained elevated at 4.7% compared to May 2024, despite having fallen from 5.4% a month earlier. Zara Nokes, global market analyst at JP Morgan Asset Management, said inflation remains "uncomfortably high", while Royal London's consumer finance expert, Sarah Penne...
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