Inflation in the U.K. returned to the Bank of England's target rate of 2% for the first time in nearly three years, official figures showed Wednesday, a development that has been seized on by the governing Conservative Party that its economic plan is “working” ahead of the July 4 election.
The Office for National Statistics said inflation, as measured by the consumer prices index, fell to 2% in the year to May from 2.3% the month before with food prices providing the biggest downward contribution.
