UK Inflation Holds at 2.8% Despite Rising Fuel Costs, Surprising Economists Ahead of Bank of England Decision (opens in new tab)

The United Kingdom’s inflation rate remained unchanged at 2.8% in May, delivering an unexpected boost to policymakers and households as economists had widely anticipated a fresh rise in price pressures. The latest figures from the Office for National Statistics showed that higher transport and fuel costs were largely offset by easing food inflation, helping consumer prices hold steady despite global geopolitical tensions and elevated energy market uncertainty. The inflation reading comes at a...