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Inflation hits a high
In May, the annual rate of inflation under the Retail Prices Index (RPI) was up to 3.7% from 3.5% the previous month. It was last as high as 3.7% in February 2012.
Dearer holidays were the main contributors to the latest increase in the inflation measure favoured by union negotiators.
Inflation under CPIH — the government’s preferred measure — was up to 2.7% in May from 2.6% in April. It was last higher in April 2012 when the rate hit 2.8%.