LONDON, June 19 (Xinhua) -- The Consumer Prices Index (CPI) of the United Kingdom rose by 2 percent in the 12 months to May 2024, down from 2.3 percent in the 12 months to April, data released by the Office for National Statistics (ONS) showed on Wednesday.
The largest downward development on the CPI came from food prices, and the CPI including owner occupiers' housing costs increased by 2.8 percent in the 12 months to May 2024, down from 3 percent in April.
According to the monetary policy summary published by the Bank of England on May 9, inflation is expected to return to the 2 percent target imminently. However, it could rise slightly in the second half of the year to around 2.5 percent, due to energy-related base effects such as geopolitical factors.
Service inflation fell short of experts' expectations, with the annual CPI services rate increasing from 5.9 percent in April to 5.7 percent in May. ■
