UK inflation slowed to 2% in May

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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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