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UK inflation up to 4.4% in July | UK inflation up to 4.4% in July |
(10 minutes later) | |
The UK's annual rate of inflation rose to 4.4% in July, up from 3.8% in June and more than twice the government's 2% target, official figures have shown. | The UK's annual rate of inflation rose to 4.4% in July, up from 3.8% in June and more than twice the government's 2% target, official figures have shown. |
The rise in the Consumer Prices Index (CPI) was higher than expected and driven mainly rising food prices. | |
High petrol prices also helped to push up inflation as the data was collected before the recent drop in oil prices. | High petrol prices also helped to push up inflation as the data was collected before the recent drop in oil prices. |
Inflation as measured by the Retail Prices Index (RPI) - often used in pay negotiations - rose to 5% from 4.6%. | Inflation as measured by the Retail Prices Index (RPI) - often used in pay negotiations - rose to 5% from 4.6%. |
Food prices jumped by a record 13.7% over the year mainly as a result of surging meat prices - particularly bacon, pork and poultry | |