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Default Automatically update Value for data label

Hello

I am using Excel 2003 SP2, and have some graphs which have the value (data
label) for the last month. Each month new data is entered and the data label
has to be deleted for the previous month and the data label for the most
recent month added (it still uses the same old data - new data is only
entered for the most recent month).

Is there any way where the data label can automatically update with the most
recent months value (as the chart updates itself automatically currently).

Any ideas appreciated. Thank you in advance.

Regards,
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