UK CPI and Retail Sales Data for May Released

The United Kingdom's Consumer Price Index (CPI) rose 2.8% year‑on‑year in May, matching the previous month and slightly below the 3% forecast. The core CPI, which excludes volatile items, increased 2.6% year‑on‑year, also below the 2.7% estimate and up from 2.5% in April. On a monthly basis, CPI grew 0.2% in May, versus a 0.4% forecast and a 0.7% rise in April, while core CPI rose 0.3% month‑on‑month, missing the 0.4% forecast and down from 0.7% previously. Retail sales data for May showed no reported month‑on‑month change, with analysts expecting a 0.5% rise after a 0.7% increase in April, and annual retail sales were also not released, though forecasts were 3.3% year‑on‑year, up from 3% in April.