UK inflation to hit 2% for first time in three years

Calculated approach: Bailey speaks at the London School of Economics. The BoE governor and his colleagues are expected to leave the benchmark rate at 5.25% on Thursday amid concerns about stubbornly high services inflation. — Bloomberg

LONDON: UK inflation is expected to fall to the Bank of England’s (BoE) target for the first time in almost three years, but the milestone may do little to help Prime Minister Rishi Sunak’s beleaguered government ahead of the July 4 general election.

Economists expect official figures tomorrow to show consumer prices rose 2% in May from a year earlier, slowing from 2.3% in April.