Live news updates: EDF Energy rules out delay to closure of UK nuclear power plant

German inflation rose by more than expected to a new record of 8.7 per cent in May, driven by soaring energy and food prices, increasing pressure on the European Central Bank to raise interest rates faster than planned. The federal statistical agency said the biggest drivers were a 38.3 per cent rise in energy prices and an 11.1 per cent jump in food prices - both up sharply from the previous month. Chief eurozone economist at Pantheon Macroeconomics, forecast that German core inflation, excluding energy and food costs, would continue rising from 3.7 per cent in May to above 4 per cent - double the ECB's 2 per cent target. In the UK, inflation reached a 40-year high of 9 per cent in April driven by rising energy prices following Russia's invasion of Ukraine. Petro won with more than 40 per cent of the vote but given that most of Gutiérrez's supporters are likely to back Hernández in the second round, the leftwing frontrunner has his work cut out to win the presidency.

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