UK inflation hits double digits for first time in 40 years
Andrew Atkinson and Celia Bergin
London | UK inflation rose more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.
The Consumer Prices Index rose 10.1 per cent in July from a year earlier after a 9.4 per cent gain the month before, the Office for National Statistics said Wednesday. Economists had expected a reading of 9.8 per cent.
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