UK inflation stood at 8.7% in the year to May, the same as the rate in April, according to the latest official figures.
Analysts had expected the monthly report from the Office for National Statistics (ONS) to show a slight easing of price rises, to around 8.4%.
With no movement in inflation, the Bank of England is widely expected to increase interest rates by 0.25 percentage points to 4.75% on Thursday. Some suggest a bigger increase to 5% could be on the cards.
Inflation remains at a “historically high level”, said ONS chief economist Grant Fitzner, with the May rate driven by higher airfares and rising prices for second-hand cars, live music events and computer games.
These increases were partially offset by a fall in petrol prices.
Food price inflation remains high, at 18.4% in the year to May 2023, but this is down from 19.1% in April and 19.2% in March.
Chancellor Jeremy Hunt said the government would continue to support the Bank of England “as it seeks to squeeze inflation out of our economy” while providing targeted support with the cost of living.
He added: “If you look at what’s happening in other countries, you can see that rises in interest rates do bring down inflation over time, that will happen here.”
