U.K. CPI falls to 2.8% in May

U.K. Office for National Statistics reported on Tuesday that the consumer price inflation slipped to 2.8% in May from April's 3.0%. Analysts, however, expected that CPI would remain unchanged and remain equal to 3.0%. Core CPI, which does not include products like tobacco and alcohol, climbed to 2.2% on a seasonally adjusted basis, whereas it was expected to be 2.3%.