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U.K. Inflation Hits 41-Year High as Recession Looms
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LONDON—The U.K.’s annual rate of inflation rose to a fresh 41-year high in October on surging energy prices, but a government price cap on energy and a looming recession means any further increases to inflation in coming months are likely to be more modest.
Consumer prices were 11.1% higher than a year earlier, a faster rate of inflation than the 10.1% recorded in September and the highest since October 1981, the Office for National Statistics said Wednesday.
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