UK inflation hits 9.4%, a new 40-year high

The UK’s annual inflation rate has hit a new four-decade high, outpacing accelerating wage growth and weakening the country’s economic prospects during a period of political vacuum.

Britain’s Office for National Statistics said on Wednesday consumer prices were 9.4% higher in June than a year earlier, the highest rate of inflation since 1982 and a recovery from 9 .1% in May. The figure marks the fastest price rise for a Group of Seven economy since the global surge began early last year.


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