UK inflation stays at 2.8% as slowing food prices offset rising transport costs

The Guardian17 jun 2026Macro
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The consumer price index held at 2.8% in May, defying economists’ expectations of a climb to 3% as a 6.8% annual rise in transport costs (including a 10.3% month-on-month jump in air fares) was offset by food inflation easing to 2.2%, its lowest since December 2024. Core inflation edged up to 2.6% from 2.5% in April. The Office for National Statistics attributed the transport pressure to air fares, vehicle taxes, and petrol, while the food slowdown reflected falling meat, dairy, and vegetable prices.