UK Inflation Slows To Central Bank's 2% Target

After peaking at 11.1 percent in October 2022, UK inflation has cooled following a series of interest-rate hikes by the central bank (Credit: AFP)

British inflation slowed in May to the central bank's two-percent target, official data showed Wednesday, boosting Prime Minister Rishi Sunak's struggling election campaign.

The Consumer Prices Index fell as expected from 2.3 percent in April, the Office for National Statistics said in a statement citing easing growth in food prices.