Cost of Living: What is the impact of core inflation's rise to 7.1% on households?

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Core inflation, which strips out volatile elements such as fuel and food, rose in May, the ONS data shows.

It ticked up from 6.8% to 7.1% in what will be a significant worry for the Bank of England and the government.

As a result, interest rate projections have increased and interest rates are expected by investors to peak at 6% next March, but could reach the new high as soon as December.

Inflation latest: https://news.sky.com/story/inflation-latest-updates-interest-rates-mortgages-12615118

#ukinflation #bankofengland #skynews

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