Ammon News - Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.
The Office for National Statistics said annual consumer price inflation rose in June to 9.4 per cent, the highest since February 1982,up from May's 9.1 per cent and above the 9.3 per cent consensus, according to Reuters.
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