Inflation in the United Kingdom continues to hold at its high grounds, more than double the target 2.0% areas for the Bank of England.

In May inflation eased on the month with 0.2% rise from April's 1.0% and remained at 4.5% on the year in line with expectations. Core inflation on the other hand eased more than expected with the slowing recovery and dampened spending rising 3.3% compared to the previous 3.7% and expected 3.5%.

The Retail Price Index (PRI) rose 0.3% on the month following 0.8% rise in May and remained at 5.2% on the year as expected. RPI excluding mortgage installment payments rose 5.3% in line with the previous and above the 5.2% expected.