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18th May 2022 18:00U.K., Daily Monitor

Higher energy prices and tax rises pushed up the headline rate of CPI inflation to a 40-year high in April.

But there were encouraging signs that retailers are starting to absorb some of the surge in producer prices.

Inflation will ease over the summer as base effects kick in and the real income squeeze inhibits services price rises.

average weekly wages brent crude consumer prices core cpi core cpi inflation core goods core goods prices cpi cpi inflation electricity energy energy prices fuel futures prices government headline rate June May motor fuel mpc natural gas November October Ofgem output price inflation rents rics services inflation summer transport u.s. vat wages weekly wages

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