Bank of England must ‘create recession’ to fight high inflation, Hunt advisor says, as mortgage rates rise again – as it happened

Member of Jeremy Hunt's economic advisory council says BoE must create uncertainty and frailty", after UK headline inflation was unchanged at 8.7% in May

Falling prices for motor fuel led to the largest downward contribution to monthly inflation in May.

Today's inflation report shows that motor fuel prices fell by 13.1% in the year to May 2023, compared with a fall of 8.9% in April.