UK inflation slows in May but food prices jump
The British inflation slowed down as expected in May, in April, air fees and tax data error correction, food prices have increased for more than a year for more than a year.
The National Statistics Office said on Wednesday that consumer prices increased by 3.4 percent annually in May, just as Economists and the Bank of England’s Reuters survey envisaged.
Service Price Inflation – An important metric for Boe – in April, it was cooled from 5.4 percent to 4.7 percent and matched with Boe’s May estimation. The Reuters questionnaire pointed to a 4.8 percent reading.
In the early June, ounces, April’s title consumer price inflation of 3.5 percent inflation reading, the government’s car tax data due to a error of 0.1 percent of the exaggeration, he said.
April’s figures were not changed, but the right data were used to read May.
In April, the air fees fell sharply after the increase in Easter holidays.
It is unlikely that the data will shift interest rate expectations between economists and investors who think that BOE will wait for borrowing costs when it announces its June policy decision on Thursday.
Sterling rose slightly to the US dollar after an ounce data version.
Gas, electricity and water prices increased with higher taxes on employers in April and caused inflation to splash from 2.6 percent in March.
Since the beginning of the Iran-Israeli conflict last week, the increase in oil prices may lead to increasing inflation again.
Ones said that food prices increased by 4.4 percent in 12 months with a coup for low -income household peoples, with an increase of more than a year.
Some Boe officials said that at the Central Bank’s May meeting, the last climbing in inflation will not have the same assumption that there will be no longer effects on pricing behavior.
On Tuesday, market pricing pointed out that Boe’s chances of waiting for the rates this week to 87 percent.
Boe reduced the quarter points to 4.25 percent on May 8th.
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