Soaring oil prices and peaks in the food and beverages sector are to blame for higher than expected r...
Soaring oil prices and peaks in the food and beverages sector are to blame for higher than expected rises in inflation. According to figures from National Statistics, the CPI annual inflation rate rose from 2.2% in May to 2.5% in June. This is the highest figure since the start of the official series in 1997 and matched a peak in September 2005. This figure shows that the UK inflation rate is slightly above the average of the European Union, which, as a whole, sat at 2.4% in June. The RPI, which takes account of all items excluding mortgage interest payments, rose from 3.0% in May to 3....
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