Economic Buzz: UK inflation unchanged at 2.8% in May

The annual inflation rate in the United Kingdom stood at 2.8% in May, unchanged from April, the Office for National Statistics (ONS) said in its report published on Wednesday. Month-on-month, the Consumer Price Index (CPI) increased by 0.2%.

The Consumer Prices Index including owner occupiers' housing costs (CPIH) grew 3% in the reported month, year over year, while the reading rose 0.2% from April. The Consumer Price Index (CPI) excluding food, energy, alcohol, and tobacco grew 2.6% on an annual level, up from 2.5% registered in April, and rose 0.3% on a monthly basis.

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