UK annual inflation surged to 2.2% in July -Official

UK annual inflation surged to 2.2% in July -Official

British annual inflation rose back above the Bank of England’s target in July, official data showed on Wednesday.

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The Consumer Prices Index rose 2.2 per cent last month, compared with a 2.0-per cent gain in June, the Office for National Statistics said in a statement

It means overall prices are rising faster than the Bank of England’s 2 per cent target, although an increase was widely predicted.