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UK inflation hits 30-year high of 6.2% as finance minister readies response

Statistics Office highlighted household energy bills and petrol as the biggest drivers of inflation in February.

Rishi Sunak
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UK finance minister Rishi Sunak.

Reuters London
British inflation shot up faster than expected last month to hit a new 30-year high, worsening a historic squeeze on household finances that finance minister Rishi Sunak is under pressure to ease in a budget update later on Wednesday.

The Office for National Statistics said consumer prices rose by 6.2% in February after a 5.5% rise in January, its highest rate since March 1992. The median forecast in a Reuters poll of economists had pointed to a reading of 5.9% and only three of the 39 respondents had expected such a strong reading.

The ONS highlighted household energy bills -

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 23 2022 | 1:10 PM IST

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