Inflation Hits 4.4%
Inflation rose to its highest level ince 1997 when it reached 4.4% in July. The increase of 0.6% was also the highest jump since the measurement of inflation using CPI began.The figure of 4.4% is twice the government target, making it even more difficult for the Bank of England to cut interest rates in the coming months, desite the economy slowing down.
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