The UK's (UK) annual Consumer Price Index (CPI) rose by 3.4% in May after rising 3.5% in April, data released by the Office for National Statistics (ONS) showed on Wednesday.
Markets had expected a 3.4% growth in the reported period. The reading was still short of the Bank of England's (BoE) target of 2%.
Core CPI (excluding volatile food and energy) rose 3.5% year-on-year (YoY) in the same period, compared with a 3.8% acceleration in April, but missed the anticipated 3.6%.(alg)
Source: FXstreet
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