UK inflation defied expectations of a fall today as Rachel Reeves' hopes for the economy suffered another blow.
Official figures showed headline CPI stuck at 3.4 per cent in May, worse than the 3.3 per cent analysts had pencilled in.
Rising food prices offset easing air fares and transport costs, dashing hopes that Brits would get some respite after 'Awful April' bill hikes pushed prices up at their highest pace for a year.
Economists said the 'dismal' numbers meant the Bank of England is almost certain to hold off cutting interest rate cuts when the Monetary Policy Committee meets tomorrow. Ministers have been looking to Threadneedle Street to help kick-start UK plc's stalling activity.
There is also a looming threat from carnage in the Middle East, with concerns the Israel-Iran conflict could cause a devastating spike in energy costs.
