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UK inflation heading towards a 40-year high

Inflation looks set to hit double digits later this year, turning the clock back to the early 1980s.

06 May 2022, 1 min read

The latest CPI inflation data show that UK consumer prices rose by 7% in March. This was the highest annual rate of inflation since 1992 and marked a substantial rise from the 0.7% rate just a year earlier. Inflation is expected to have crept up even further in April, driven up by a 54% rise in the energy price cap. With a further increase in the price cap currently expected in October and Russia’s invasion of Ukraine likely to keep oil, food, and gas pr

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