UK inflation slows to 3.4% in May as transport costs ease – business live

Easing transport costs partly offset by highest food inflation since early 2024, with chocolate, ice-cream and meat becoming dearerHere’s our full take. The inflation figures come a day before the Bank of England announces its latest interest rate decision, with markets expecting no change at noon tomorrow.Traders have pencilled in a 10% chance of a cut. A reduction in August seems more likely. Markets are still expecting two more quarter point cuts to the base rate by the end of the year, from its current 4.25%. Continue reading...

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