UK inflation remains highest for more than a year

UK inflation remained at 3.4% in the year to May as cheaper air fares offset higher food prices as the cost of chocolate and meat rose. The pace of price rises was the same as in April, following a revision by the Office for National Statistics (ONS), and means that inflation remains at its highest for more than a year.It said that the cost of plane tickets fell compared with a large rise last year "as the timing…