UK Inflation Holds Steady at 2.8% in May, Below Expectations

UK inflation unexpectedly held at 2.8% in May, defying economist predictions of a rise to 3%, as lower food prices offset higher airfares and transport costs.

Brit Brief 17/06/2026 06:01

UK Inflation Holds Steady at 2.8% in May, Below Expectations — UK Inflation Steady at 2.8% in May, Below Forecasts

UK inflation unexpectedly flatlined last month as a slowdown in food price rises offset pressure from airfares, according to official figures.

Inflation Rate Remains Steady

The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation was recorded at 2.8% in May, the same rate as in April. It was lower than expected by economists, who had predicted an uptick in inflation to 3%.

Factors Behind the Steady Rate

ONS chief economist Grant Fitzner said: “After last month’s slowdown, inflation held steady in May as various price movements offset each other.” He noted that the main upward movement came from transport, with airfares, vehicle taxes, and petrol prices all pushing up inflation. These were offset by lower food prices, with decreases seen across meat, dairy, and vegetable items compared to last month, as well as the cost of domestic heating oil, which fell back after climbing in recent months.

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The steady rate provides some relief for households, though inflation remains above the Bank of England’s 2% target. Analysts suggest the data may influence future monetary policy decisions.