UK inflation rate holds steady but reprieve will be short-lived

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleThe UK's inflation rate held steady at 2.8 per cent for the year to May, according to the Office for National Statistics. This figure came as a surprise to most economists, who had predicted a rise to 3 per cent or more. Transport prices, including air fares and motor fuel, were the biggest upward contributors to inflation, while falling food and non-alcoholic beverage prices helped to offset this. The stable inflation rate is expected to provide the Bank of England with confidence to maintain interest rates at 3.75 per cent. Despite the current stability, experts warn that inflation is likely to increase again later in the year due to factors such as rising energy price caps and pressures on food production. In fullUK inflation rate remains unchanged at 2.8% despite soaring air faresThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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