Core inflation is the kind of number that deeply worries economists - it suggests inflation is becoming embedded in the economy and the increased figure will be of interest for the Bank of England when considering their next interest rate rise.
But strip those volatile elements away from overall inflation and you are left with something called"core inflation". This is a better measure of the underlying direction of travel for inflation.
Indeed, far from falling in April like the overall rate, it actually rose, from 6.2% to 6.8%, the highest level in three decades. In other words, while the headline number reported today looks like good news for most of us - and indeed it is in some respects good news - the underlying picture from today's figures is quite the opposite.Please use Chrome browser for a more accessible video playerEconomics and data editor Ed Conway explains why the IMF expects the cost of living crisis to continue.
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