UK inflation unexpectedly fell further last month to the lowest level in more than a year as lower airfares provided some relief for cash-strapped Britons. Economists had expected the annual rate of growth in prices to remain unchanged. UK inflation falls to 13-month low, sending pound sliding – business live Read moreWhile the impact from sterling’s fall has started to fade, economists reckoned higher fuel prices would force inflation to remain above the Bank of England’s target of 2%. Economists said this could drive inflation higher in future months, as petrol stations push up their prices. But Labour attacked the government for inflation running above the Bank’s target rate of 2%.

Source: The Guardian May 23, 2018 09:56 UTC