UK inflation hits fresh 40-year high

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UK inflation hits fresh 40-year high

Updated 1 week ago · Published on 22 Jun 2022 9:50PM · 0 Comments

Protesters demonstrate against the increasing cost of living in central London on June 18. As UK inflation heads towards 11%, the government has warned workers they cannot expect pay rises to keep up with soaring cost of living. – EPA pic, June 22, 2022.

BRITISH annual inflation has hit a fresh 40-year high, official data showed today, further eroding workers’ wages and pressuring the Bank of England to keep on raising interest rates.

The rate edged higher to 9.1% in May from 9% in April, remaining at the highest level since 1982, the Office for National Statistics said in a statement.