Soaring food and fuel prices have pushed the UK’s inflation to 9.4 percent in June, the highest in 40 years, official data have revealed.
The inflation rate, as measured by the Consumer Prices Index (CPI), was up from 9.1 percent in May and exceeded the 9.3 percent expected by most economists.
According to new data from the Office for National Statistics (ONS), the cost of motor fuels jumped by 42.3 percent in the 12 months to June, the biggest leap since records began.
Grocery bills have also risen sharply, with food and non-alcoholic drink prices having risen by 9.8 percent in the year to June 2022, the highest rate since March 2009….