UK inflation slowed to 2% in May


In May, the inflation rate in the UK again matched the target value of the Bank of England. As reported by the British Office for National Statistics, inflation in the country marked a level of 2%, having dropped from the April value of 2.1% and confirming analysts' expectations. Consumer prices increased by 0.3% compared with April, which also corresponds to the market forecast. The CPI Core index, which does not include the cost of energy, food, alcohol and tobacco, was at 1.7%. Its value decreased from 1.8% a month earlier. The Office published two more reports on Wednesday. One of them pointed to the growth in retail sales in May by 3% per year and 0.3% per month. According to the second report, the British housing market in April showed a 1.4% increase in prices in annual terms, slowing the rise in comparison with March growth of 1.6%.

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