The UK Consumer Prices Index (CPI) remained steady at 2.8% in the 12 months to May 2026, unchanged from the 12 months to April and below market expectations of 3%.
On a monthly basis, however, CPI rose by 0.2% in May 2026, the same rate as in May 2025. Transport made the largest upward contribution to the CPI annual rate, while food and beverages made the largest downward contribution. Core CPI, which excludes energy, food, alcohol and tobacco, rose by 2.6% in the 12 months to May, up from 2.5% in the 12 months to April. The inflation data comes ahead of the Bank of England's Monetary Policy Committee (MPC) meeting on Thursday (18 June). Rate setters "should take comfort from the expectation that a weak economy and soft labour market will ...
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