According to Jinshi, a survey on Wednesday showed that the growth of the UK service industry in May fell from an 11-month high in April, and inflationary pressure fell to the lowest level in three years, which may create conditions for the Bank of England to cut interest rates later this year. The service industry PMI hit a six-month low of 52.9 in May, and the composite PMI fell from a one-year high of 54.1 in April to a two-month low of 53.0. Joe Hayes, chief economist of Standard & Poor's, said that this is the third consecutive month that service industry sales price inflation has slowed down, which will be very encouraging for the UK Monetary Policy Committee, indicating that the trajectory of service industry prices is moving in the right direction.