UK inflation rises to 9.1%, its highest rate in 40 years
The Guardian says UK INFLATION has increased to 9.1%, the highest rate in 40 years amid record prices for petrol and the soaring cost of food.
The figures from the Office for National Statistics showed an increase in May from 9% in April as measured by the consumer price index (CPI), , in a reading that matched the forecasts of City economists. In a fresh high, the headline inflation rate has hit a level not seen since February 1982, piling pressure on households in the cost of living crisis.
Inflation is being fuelled by food and non-alcoholic drink prices, which are rising at the fastest annual rate since 2009, the ONS said, with the most dramatic increases seen in the cost of bread, cereals and meat.
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