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Upward swing to UK inflation

by Staff Reporter6 minute read

The rate of inflation rose in the UK in April to three per cent – the highest rate in five years and well above the government’s target of two per cent.

The upward swing in inflation was attributed largely to changes in prices for gas, electricity and heating oil.

Bank of England Governor Mervyn King warned the rate of inflation was unlikely to fall below three per cent for several quarters.

Published: 15-05-08

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