Inflation rise bigger than expected

The squeeze on consumers intensified last month as soaring air fares and more expensive clothing and footwear lifted inflation higher than expected.

Consumer Prices Index (CPI) inflation climbed to 2.7% in May, from 2.4% in April, the Office for National Statistics (ONS) said. But while inflation is expected to peak at about 3% in coming months, economists believe it will then begin a "slow but steady" drift down.
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