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

From 2h ago 02.02 EDT UK inflation slows to 3.4% in May as transport costs ease Inflation in the UK has slowed slightly, as expected. The consumer prices index rose by 3.4% year on year in May, down from 3.5% in April, according to the Office for National Statistics. This was bang in line with City economists' forecasts. The central bank's target is 2%. The core rate, which excludes energy and food, fell to 3.5% from 3.8%, also as expected. The Consumer Prices Index (CPI) rose by 3.4% in the 12 months to May 2025, compared with 3.5% in the…