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UK's Annual Inflation Unchanged at 2.8% in May

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Britain's annual inflation rate remained stable at 2.8% for the second consecutive month in May, according to data from the Office for National Statistics published Wednesday.

Analysts expected a 3% rate for the month.

On a monthly basis, consumer prices were 0.2% higher, against the 0.7% uptick in April and the market forecast of 0.4% growth.

Meanwhile, the UK's annual core inflation rate was 2.6%, compared with the prior 2.5% and expected 2.7%. Month over month, core consumer prices gained 0.3%, against the previous reading of a 0.7% rise and the consensus estimate of a 0.4% increase.

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