World Economy

UK Inflation 1%

UK Inflation 1%UK Inflation 1%

British inflation recorded its biggest jump in two years last month, setting the tone for a steep rise in prices over the coming year as sterling’s post-Brexit plunge squeezes household finances, CNBC reported. Annual consumer price inflation rose to 1% in September from 0.6% in August—a leap not seen since June 2014, official figures showed on Tuesday. The rate of inflation was its highest since November that year. There was no direct evidence that sterling’s near 20% slide against the US dollar since the referendum decision to leave the European Union was the driver of September’s price jump, the Office for National Statistics said.

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