UK Inflation Unexpectedly Holds Steady Ahead of BOE Decision (opens original article in a new tab)

UK inflation unexpectedly held steady at 2.8% in May, below economists' expectations, with services sector inflation rising higher than forecast, while a US-Iran deal caused energy prices to drop and a planned energy bill increase is set to impact inflation in July.

• UK inflation remained at 2.8% in May, below the 3% expected by economists
• Services sector inflation rose to 3.7%, higher than forecast
• Energy prices dropped due to a US-Iran deal, affecting inflation expectations
• A 13% increase in energy price cap is set to add 0.4 percentage points to inflation in July