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UK recession fears erupt as inflation hits all-time record high in unprecedented spike


The Office for National Statistics released their figures on Wednesday morning, showing that prices are climbing faster than they have in 40 years.

UK inflation had already risen to 7 percent in March.

The rate of Consumer Prices Index inflation is the official measure used to judge the cost of living, as energy, food, and fuel prices climb.

Inflation rates in the UK have not reached 9 percent since 1982, with the Ukraine war driving up prices of goods and services, and the 54 percent increase in the energy cap for UK households.

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