UK inflation unexpectedly held at 2.8% in May, defying forecasts of a jump to 3%, as slower food price rises offset the sting of soaring transport costs. Transport inflation hit 6.8% — the highest since December 2022 — driven by petrol, air fares, and vehicle taxes, all worsened by the Middle East conflict and the closure of the Strait of Hormuz. The silver lining: meat, dairy, and vegetable prices rose at their slowest pace since last December, and...