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Inflation edges lower
Inflation edged lower in May, official figures show. The annual rate of inflation under the Retail Prices Index (RPI) — the inflation measure favoured by union negotiators — fell to 3.3% from 3.4% in April.
Inflation under the Consumer Prices Index Housing (CPIH), edged higher to 2.3% from 2.2%.
Meanwhile, inflation under the Consumer Prices Index, the measure favoured by the Bank of England, was steady at 2.4%.