UK inflation unexpectedly stays at 2.8% with higher transport costs offset by slower food price rises – business live

Inflation in the UK surprisingly remained steady at 2.8% in May, despite a significant jump in transport costs, which rose by 6.8% annually, the highest since December 2022. This was largely driven by increases in airfares, motor fuels, and sea fares, along with adjustments in Vehicle Excise Duty. Meanwhile, food prices saw their slowest rise since December 2024, thanks to declines in meat, cheese, vegetables, and cheese prices. This balancing act between rising transport costs and slower food inflation underscores the complex dynamics at play in the UK's economic landscape.