Cost of Living: What is the impact of core inflation's rise to 7.1% on households?

Core inflation, which strips out volatile elements such as fuel and food, rose in May, the ONS data shows. It ticked up from 6.8% to 7.1% in what will be a significant worry for the Bank of England and the government. As a result, interest rate projections have increased and interest rates are expected by investors to peak at 6% next March, but could reach the new high as soon as December. Inflation latest: https://news.sky.com/story/inflation-... #ukinflation #bankofengland #skynews SUBSCRIBE to our YouTube channel for more videos:    / skynews   Follow us on Twitter:   / skynews   Like us on Facebook:   / skynews   Follow us on Instagram:   / skynews   Follow us on TikTok:   / skynews   For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-n... Android https://play.google.com/store/apps/de... Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí:    / @skynewsespanol   Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden:    / channel   To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales