UK inflation stays steady at 2.8% despite Iran conflict driving up fuel prices (opens in new tab)

Flatlining figure confounds forecasts of an increase to 3% as Bank of England prepares to set interest ratesUK inflation unexpectedly remained at 2.8% last month despite the Middle East war driving up energy prices, official figures have shown.May’s annual price rise reading recorded by the Office for National Statistics confounded economists’ forecasts of a rise to 3%.