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mpc: 28 The possibility that the more rapid than expected pickup in CPI inflation reflected, at least in part, excess demand along the supply chain could not be ruled out. Interpretation of the data was complicated by the uncertain impact on some prices of the unusually early Easter holiday. Among the goods and services for which retail prices had risen faster than expected were food, air fares and financial services. Food prices had been pushed up by poor weather overseas, particularly in Spain, so this was likely to have only a temporary effect. Air fares had probably been driven up partly by higher costs of oil, but it was not clear how much of the first-round effects of past oil price rises was still to come through the supply chain.