UK DATA: May CPI +0.2% m/m; +4.5% y/y vs Apr +4.5% y/y
–May core CPI unch. m/m; +3.3% y/y vs Apr +3.7% y/y;
–May RPI +0.3% m/m; +5.2% y/y; May RPIX +0.3% m/m; +5.3% y/y
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Consumer price inflation remained at its highest level for more
than two years in May, as a fall in airfares was more than offset by
rising food. The outturn was in-line with the median foreacast.