Core inflation has reached its highest rate since March 1992, according to the Office for National Statistics. Inflation in the UK remained stubbornly high in May and exceeded expectations for the fourth month in a row, according to figures released by the Office for National Statistics (ONS) on Wednesday. This comes despite forecasts that consumer prices would fall in response to declining energy costs. Price growth stood at 8.7% last month, unchanged from April but above the 8.4% predicted by economists, the ONS said. Core inflation, which excludes volatile food, energy, alcohol, and tobacco prices accelerated
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