UK inflation hits fresh 40-year high

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The Bank of England has raised its key interest rate five times since December, while the value of British wages falls at a record pace. – EPA pic, July 20, 2022.

BRITISH annual inflation surged to a fresh 40-year high in June on rising motor fuel and food prices, official data showed today, adding to a cost-of-living crisis.

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The Consumer Prices Index (CPI) jumped to 9.4% last month from 9.1% in May, the Office for National Statistics said in a statement.

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