ALBAWABA – Official United Kingdom (UK) government data, issued Wednesday, showed UK inflation still unexpectedly high in May, at 8.7 percent, Agence France-Press reported.
UK inflation remains unchanged from April, despite measures taken by the government to address the issue, including multiple rate hikes.
Nonetheless, to address sticky inflation, the Bank of England is widely expected to raise interest rates again Thursday to combat elevated consumer prices, according to AFP.
A previous report put price inflation in UK at nearly 9 percent in May.
