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UK inflation rate falls to 1.5% in May

Annual inflation falls to 1.5% in May compared with 1.8% in April, says Office for National Statistics.

Eurozone inflation fell to 0.5% in May, down from 0.7% in April and below its 2% target, according to official figures.

UK's inflation rate, as measured by the consumer prices index, fell to 1.6% in March, the Office for National Statistics says.

Inflation in the 18-nation eurozone fell to 0.5% in March, marking its lowest rate since November 2009.

Eurozone inflation slowed to 0.8% last month, official figures show, moving further away from the European Central Bank's inflation target.

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