Inflation holds steady at 2.4% in May

Natalie Kenway
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Inflation holds steady at 2.4% in May

UK inflation stuck at 2.4% in May, missing analysts' estimates of a move higher and further cooling expectations on an interest rate hike from the Bank of England this summer.

The Office for National Statistics reported the Consumer Price Index remained at 2.4% in May, after falling to 2.5% in April and a year-peak of 3.1% in November 2017, prompting a fall in sterling. ...

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