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UK Inflation hits 9.1%, 40 year high
23 June 2022
- Inflation hits 9.1%, highest since March 1982
- UK has highest inflation rate out of G7
- Food price inflation hits highest since 2009
- Inflation to top 11% later this year, BoE predicts
Sterling, one of the weakest currencies against the U.S. dollar this year, fell below $1.22, down 0.6% on the day, before later recovering.
Some investors judge Britain to be at risk of both persistently high inflation and recession, reflecting its large imported energy bill and ongoing Brexit-related friction which could further hurt trade ties with the European Union.
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