UK Inflation hits 17-month high at 3.7%
The Consumer Prices Index (CPI) hit a 17-month high of 3.7% in April, forcing Bank of England governor Mervyn King to write to new Chancellor George Osborne to explain why.
Year on year, CPI hit its highest rate since November 2008, rising 0.3% from last April’s reading of 3.4%. The increase beat expectations of a more conservative rise of 0.1%, and was well above the...
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