UK inflation rate rises to 2.7% in May

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The rate of consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, the Office for National Statistics (ONS) said.

The ONS said the rise was mainly due to increased transport costs, particularly an increase in airfares.

Airfares rose by 22% between April and May, the highest increase between those two months since comparable records began in 2001.

The Bank of England has said it expects inflation to exceed 3% this year.

Hugh Pym reports.

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