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flag UK inflation rises to 2.8%, driven by higher airfares and private school fees, exceeding Bank of England's target.

flag UK inflation is expected to reach 2.8% in January, up from 2.5% in December, due to higher airfares and private school fees. flag The rise in school fees is attributed to the end of VAT exemption for private schools. flag Services inflation is predicted to exceed 5%, prompting concerns about further increases over the coming months. flag The Bank of England aims to keep inflation at 2%, but it anticipates a temporary surge to 3.7% by late summer, mainly due to global energy prices.

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