UK annualized inflation rises by 9.1% in May

The UK Consumer Prices Index (CPI) 12-month rate came in at 9.1% in May when compared to 9.0% registered in April while matching estimates of a 9.1% print, the UK Office for National Statistics reported on Wednesday. The annualized figure hit the highest since March 1982 and is also the highest rate out of the Group of Seven (G7) countries.

The core inflation gauge (excluding volatile food and energy items) eased to 5.9% YoY last month versus 6.2% booked in April, missing the market forecast of 6.0%.