UK inflation unexpectedly stayed at 2.8% in May, confounding forecasts of a jump to 3% as rising transport costs were offset by the slowest food price growth since December 2024.

Money Moves

• Transport Costs Surge — Annual transport inflation hit 6.8%, up from 4.5%, driven by airfares, petrol, and a Vehicle Excise Duty correction.
• Food Prices Ease — Food inflation slowed significantly, with declines across meat, dairy, and vegetables providing...