Latest official data on prices shows an easing in consumer price inflation from a more than year high of 3.5% in April

Inflation forecast to remain broadly flat over next few months, leaving door open for August interest rate cut

Core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, rose by 3.5% in the year to May.

Latest official data on prices shows an easing in consumer price inflation from a more than year high of 3.5% in April

Stock market reaction and business news from Wednesday

Investors will focus on the chairman Jerome Powell to gauge how he plans to combat risk of rising prices, which remain a concern for the US central bank

Ratesetters likely to keep borrowing costs steady in face of posbbile inflation shock from Middle East