UK inflation report to show if cost of living squeeze eased in May – business live

Rolling coverage of the latest economic and financial news, including the latest inflation report

Newsflash: UK inflation was unchanged last month, bringing little relief to struggling households.

The Consumer Prices Index shows prices rose by 8.7% in the year to May, matching the 8.7% recorded in April, the Office for National Statistics has reported.

“Although inflation is beginning to fall as we enter the second half of this year, it still lies far ahead of pay rises, meaning employees will remain grappling with the effects of a real-terms pay cut.”