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Cost of Living: Inflation 'stickier' than expected as core inflation surprises with a rise to 7.1%

Inflation has remained at 8.7% despite expectations of a fall. However, core inflation, the rate of price rises excluding volatile price changes as energy and food, rose by 7.1% in the 12 months to May 2023.

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Core inflation rose to 7.1%, as a result, interest rates are expected by investors to peak at 6% in March.
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