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Rise in cost of living

Inflation has risen. The ONS says CPI is 3.5 per cent, up from 3.4 per cent in February. This is the first rise in inflation since September last year.

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High oil prices 'mean sticky inflation'

Economist, Howard Archer says: "While inflation should trend lower over the coming months, the very real danger is that it will prove significantly stickier than had been hoped for due to persistently high oil prices.

Sticky consumer price inflation would maintain an appreciable squeeze on consumers' purchasing power and dilute hopes that consumers will increasingly step up their spending as 2012 progresses."

Latest inflation figures are due out this morning Credit: Reuters

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