The consumer price index in Britain, concerned with measuring inflation, grew by 8.7% in the 12 months ending in May, the same reading as April, according to figures issued by the UK Statistics Office ONS a moment ago, while expectations were for a slowdown by 8.4%, while inflation rose on a monthly basis by a rate of 8.4%. 7.7% in May compared to an increase of 1.2% in April.

The main index excluding food and energy prices rose to 7.1% from 6.8%, while expectations were that it would stabilize at 6.2%, its highest level since 1992.

In the details of the index, the annual inflation rate for the prices of non-alcoholic food drinks grew by 18.4% in May, compared to 19.1% in April, while inflation in transport prices rose to 1.3% from 1.6% in April, and motor fuel prices decreased by 13.1% from 8.9%. .

With the markets anticipating tomorrow, Thursday, the meeting of the Central Bank of England to discuss monetary policy developments, it is expected that these numbers will support the bank’s raising interest rates by 25 basis points, to reach 4.75%, and a tightening tone that may support the continuation of the rise in the pound sterling.