Inflation hits fresh 40-year high of 9.1%
- On June 22, 2022
- By GrowthInvest Marketing
UK inflation has increased to 9.1 per cent, the highest rate in 40 years, amid rising food prices.
The consumer prices index rose to 9.1 per cent in the 12 months to May this year, driven by rising prices for food and non-alcoholic beverages, according to the Office for National Statistics.
RPI, which measures the changes in retail prices of a basket of goods and services, as opposed to the weighted average prices tracked by the CPI, rose 11.7 per cent, up from 11.1 per cent in April.
Food and non-alcoholic beverage prices rose by 1.5 per cent between April and May 2022, compared with a fall of 0.3 per cent in the same period a year ago.
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