KEY INFLATION INDICATORS IN THE UK:
Core inflation rate y/y (May) actual 7.1% against forecast 6.8%.
Inflation rate y/y (May) actual 8.7% against the forecast 8.4%.
Inflation rate m/m (May) Actual 0.7% vs. previous 0.5%.
At the same time, food price inflation remains another area of concern, with a slight drop overall for the month, but the year-on-year rate far exceeds headline inflation. Fuel prices were the biggest contributor to lower monthly inflation in May, falling 13.1% year-on-year from 8.9% in April. Inflation for UK goods eased slightly to 9.7% in May, but...
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