Inflation 'a bitter pill to swallow' as stagnant 8.7% recorded for May

The Office for National Statistics (ONS) has reported that core inflation, which excludes energy, food, alcohol and tobacco, rose by 7.1% in May, up from 6.8% in April and the highest rate since March 1992. Premier Miton Investors chief investment officer (CIO) Neil Birrell noted that inflation had come in above expectations for four months in a row, with core inflation "in particular" not falling as fast as hoped. The inflation figures come in the face of a Bank of England (BoE) interest rate decision tomorrow (22 June), with most investors anticipating a 25 basis point (bps) hike. ...