UK inflation reaches double digits for the first time in 40 years.
Consumer price inflation in the U.K. jumped to 10.1% in July, the highest since February 1982, making the U.K. the first major wealthy economy to see a double-digit price increase as soaring food costs exacerbated household budget constraints.Despite warnings this month of a possible recession, the Bank of England raised its key interest rate to 1.75%...
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