ONS said May CPI rose 2.8% YoY, unchanged from April and below economists' 3.0% forecast. Food and non‑alcoholic beverages weighed on the headline, while services inflation — the domestic price‑pressure gauge — rose to 3.7%, above expectations. The data indicate inflationary pressures were smaller than expected even before a US deal to end the Iran conflict pushed energy costs sharply lower. The prints appear to reinforce a wait‑and‑see leaning among some Bank of England policymakers ahead of to

ONS said May CPI rose 2.8% YoY, unchanged from April and below economists' 3.0% forecast. Food and non‑alcoholic beverages weighed on the headline, while services inflation — the domestic price‑pressure gauge — rose to 3.7%, above expectations. The data indicate inflationary pressures were smaller than expected even before a US deal to end the Iran conflict pushed energy costs sharply lower. The prints appear to reinforce a wait‑and‑see leaning among some Bank of England policymakers ahead of tomorrow's rate decision.