British inflation rate turns positive in May

Britain's annual inflation rate rebounded in May after briefly entering negative territory the previous month, official data showed Tuesday. "The Consumer Prices Index rose by 0.1 percent in the year to May 2015, compared with a 0.1 percent fall in the year to April," the Office for National Statistics (ONS) said in a statement. In April, the CPI rate had turned negative for the first time since 1960 on the back of falling prices for transport services - notably air and sea fares - and the earlier timing of Easter, when travel tends to be more expensive.