U.K. inflation rises at the fastest pace in 30 years

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British consumer prices rose at the fastest pace in 30 years last month, fuelled by soaring costs for household energy and motor fuels, the latest grim figures as inflation surges around the world.

British consumer prices rose at the fastest pace in 30 years last month, fuelled by soaring costs for household energy and motor fuels -- the latest grim figures as inflation surges around the world.

People around the world are feeling the squeeze of inflation as demand rapidly bounced back from the COVID-19 pandemic and Russia's war in Ukraine further drove up energy costs and squeezed supply chains. Household natural gas prices jumped 28.3% over the last year, and electricity prices rose 19.2% as the global economy recovered from the COVID-19 pandemic, increasing worldwide demand for energy.

 

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