UK inflation falls back to official 2% target as food prices rise at slowest rate since 2021 – as it happened

Inflation returns to target for first time since July 2021; breakfast cereal, crisps, vegetables become cheaper

Prices for recreational and cultural goods and services rose at an annual rate of 4.1% in the year to May, down from 4.6%, today's inflation figures showed.

Prices of pets and related products, and books fell between April and May this year, compared with a monthly rise a year ago. Prices of package holidays and cultural services rose this year by less than a year ago.