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UK inflation drops to 2.8% in May

  • The UK’s rate of inflation fell last month as a drop in fuel costs helped ease the pace of wider price increases in the economy.

    The Consumer Prices Index (CPI) dropped to an annual rate of 2.8 percent in May from 3 percent the previous month, its lowest level for two-and-a-half years.

    The Monetary Policy Committee forecast in May that inflation was likely to remain above 2 percent until the second half of next year.