UK inflation up more than expected amid COVID fluctuations
LONDON (AP) — British consumer prices rose by more than expected last month as fuel and clothing costs surged following the easing of COVID-19 restrictions. The Office for National Statistics says Wednesday that inflation accelerated to 2.1% in the 12 months through May from 1.5% in April. That was higher than the 1.8% rate economists had forecast. While the inflation rate topped the Bank of England’s 2% target for the first time since July 2019, economists said the bank’s Monetary Policy Committee was unlikely to raise interest rates any time soon.