India, June 18 -- UK consumer price inflation softened in May as the slowdown in transportation costs was largely offset by the rise in food prices and reinforced expectations that the Bank of England will maintain the interest rate steady this week.
The consumer price index registered an annual increase of 3.4 percent, slightly slower than the 3.5 percent rise seen in April, the Office for National Statistics revealed on Wednesday. However, this was slightly above the forecast of 3.3 percent.
The ONS said that the CPI inflation rate and index were overstated in April by 0.1 percentage points as a result of an error in the Vehicle Excise Duty component. The statistical office said the April figures have not been amended but the corrected ...