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UK Inflation Rises to 10.1% in July from 9.4% in June & Reaches 40-Year High, Bank of England Forecast Inflation at Above 13% in October & Recession in 2023
18th August 2022 | Hong Kong
The UK (United Kingdom) inflation rate had rise to 10.1% in July from 9.4% in June, reaching a 40-year high. Earlier in August 2022, Bank of England had forecast inflation to rise to 13.3% in October 2022, with a recession in UK nearer to the end of 2022 lasting till late 2023. UK Finance Minister Nadhim Zahawi: “I understand that times are tough, and people are worried about increases in prices that countries around the world are facing … … Getting inflation under control is my top priority.” (Inflation rate is measured by Consumer Prices Index ~ CPI).
“ UK Inflation Rises to 10.1% in July from 9.4% in June & Reaches 40-Year High, Bank of England Forecast Inflation at Above 13% in October & Recession in 2023 “
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CNBC: UK inflation rose 10.1% in July, lifted by soaring food prices
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