UK inflation hit Bank of England’s 2% target in May

Inflation has hit the UK’s 2 per cent target for the first time in three years, delivering a fillip to Prime Minister Rishi Sunak as he seeks to turn around his struggling election campaign.

The figure marks a milestone for the UK economy following the worst inflationary upsurge in a generation. The Bank of England last hit its 2 per cent inflation target in July 2021.

The data means that headline inflation in the UK is now below rates in the…