ISTANBUL

The annual inflation rate in the UK was 3.4% in May, down from 3.5% in April, the Office for National Statistics (ONS) data showed on Wednesday.

Meanwhile, May inflation exceeded the market expectation of 3.3%.

On a monthly basis, consumer prices rose by 0.2% in May 2025, compared with a rise of 0.3% in May 2024.

The largest downward contribution came from transport, with upward contributions from food, furniture, and household goods.

Core inflation, excluding energy, food, alcohol, and tobacco, rose by 3.5% year-on-year in May.