Organization: The UK inflation is weaker than expected, reducing the possibility of an increase in the UK benchmark interest rate.

Quilter's Lindsay James stated in a report that the UK's inflation rate in May was lower than expected, easing concerns about inflation pressures and reducing the likelihood of the Bank of England raising interest rates in the coming months. The year-on-year overall inflation rate remained unchanged at 2.8%, below the average expectation of 3.0% from economists. James said that weaker than expected UK inflation, combined with a calming situation in the Middle East, has reduced the possibility of the Bank of England raising interest rates. Data from the London Stock Exchange Group shows that investors have fully priced in the expectation of a 25 basis point increase in the UK's benchmark interest rates in December.