UK inflation hits a 40-year high of 9.4% in June

U.K. inflation rose fr another new 40-year high in June, driven by the increasing food and energy prices which continues to impact the cost of living.

hit yet another new 40-year high in June as food and energy prices continued to soar, as the consumer price index rose from 9.1% in May to 9.4% in June, escalating the country’s historic cost-of-living crisis.

The difference represents a 0.8% monthly incline in consumer prices, more than the previous month’s 0.7% rise though it remains short of the 2.5% monthly increase in April.

In lieu of this, there are speculations that the MPC may increase the interest rate to 50% in its August monetary policy.