UK Inflation Exceeds Target For First Time Since Mid-2019

UK consumer price inflation exceeded the central bank's 2 percent target for the first time in nearly two years in May, data released by the Office for National Statistics revealed on Wednesday. Consumer price inflation accelerated to 2.1 percent in May from 1.5 percent in April. This was above economists' forecast of 1.8 percent and exceeded the Bank of England's target.