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Inflation jumped to 2.3% in October

The pace at which prices are going up is closely watched as it influences the future path of interest rates.

Channels including USA, Oxygen, E! and Syfy will also be moved to the new media company.

MSNBC, CNBC, USA, E!, Syfy and the Golf Channel will be moved to the new company.

Trump said Lutnick would lead the administration's "tariff and trade agenda".

There has been outcry from many farmers after changes to inheritance tax for farms announced in the Budget.

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