Noisy Data Muddles Inflation Picture Ahead of BOE Decision

UK inflation is expected to cool in figures due to be released Wednesday, but a lower number may to do little to ease uncertainty about price pressures in the British economy amid fresh questions about the official data.

Economists see the rate of inflation slowing to 3.3% in May, according to the median forecast in a Bloomberg survey. Gauging the significance of such a figure will be unusually fraught after the Office for National Statistics said the April rate of 3.5% initially announced was wrong due to a data error and should’ve been 3.4%.