UK inflation holds at 2.8% but farmers warn food prices will rise after Iran conflict

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UK inflation holds at 2.8% but farmers warn food prices will rise after Iran conflict.

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Britons received an unexpected boost this morning after inflation held steady at 2.8 per cent in May, defying forecasts that price pressures would begin accelerating once again.Fresh figures released by the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) remained unchanged from April, surprising City economists.It was widely anticipated there would be a rise towards three per cent, with some forecasts predicting inflation could climb as high as 3.2 per cent.The latest reading means inflation remains above the Bank of England's two per cent target, although the stability will provide some reassurance to households and policymakers concerned about the impact of rising global tensions on living costs.

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TRENDING Stories Videos Your Say Policymakers at the Bank of England are due to meet on Thursday to decide whether interest rates should be adjusted in response to the latest economic conditions.May's figure follows a notable fall in April, when inflation dropped...

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