UK inflation holds at 2.8% despite Middle East tensions, signalling resilience of price stabilityExecutive summary: UK consumer price index held at 2.8% in May, resisting forecasts of a rise to 3%. The surprise stability eases pressure on the Bank of England as it decides on interest rates, while fuel price pressures from the Iran conflict remain. Office for National Statistics, Bank of England, investors, UK government. The BoE is expected to keep rates unchanged, but remain watchful of any fuel price spikes.Official data showed that the UK’s annual inflation rate remained at 2.8% in May, defying expectations of a rise to 3%. The unexpected steadiness comes as energy prices have been pushed higher by the ongoing conflict involving Iran, yet the muted increase suggests consumer price pressures are easing. The figures give the Bank of England room to maintain its current monetary stance while it monitors future energy-driven inflation risks.Connected developmentsIran resumes oil exports via Strait of HormuzUS‑Iran diplomatic breakthrough opens path to sanctions relief+++ Iran-Krieg +++: Kabinett will kommende Woche offenbar Einsatz in Straße von Hormus beschließenEuropean allies say they’ll be ready to help in Iran. Trump has to show he has a solid deal.What Will China Learn From the Iran War?How the Iran war affects your money and billsOpen the full case file on Beyond →
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