UK inflation hits fresh 40-year high of 9.4% as fuel prices rise

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Dearer petrol and diesel prices for motorists pushed Britain’s annual inflation rate to a fresh 40-year high of 9.4% last month.

Figures from the Office for National Statistics showed the government’s preferred measure of the cost of living – the consumer prices index – was up from May’s 9.1% figure.

Inflation, which stood at 2.5% in June 2021, has now risen for nine months in a row and the Bank of England is expecting it to peak at above 11% when energy bills rise again in the autumn.

The City had been forecasting inflation would pick up to 9.3% after the price of unleaded petrol rose by about 20p a litre in June.

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