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Home Business and Economics

‘It’s getting worse’: Inflation rises to eye-watering 9.4%

Office for National Statistics (ONS) figures show wages now lag behind inflation at 20-year low.

Jack Peat by Jack Peat
2022-07-20 07:11
in Business and Economics, Economics
PA

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The Consumer Prices Index (CPI) rose by 9.4 per cent in the 12 months to June 2022.

That’s an increase from 9.1 per cent in May.

The annual Retail Price Index (RPI) is also up and currently stands at 11.8 per cent.

Commenting on the figures, Chieu Cao, CEO of Mintago, said: “With inflation soaring ever higher, it is clear the financial burden faced by Britons is set to remain for some time.

“And with recent research revealing that with over two-thirds (68 per cent) of respondents haven’t received a pay rise in line with inflation, the situation is becoming desperate.

“Something needs to change.”

It's getting worse …

The Consumer Prices Index (CPI) rose by 9.4% in the 12 months to June 2022, up from 9.1% in May.

And the annual RPI inflation rate rose to 11.8% in June 2022.

— Andrew Fisher (@FisherAndrew79) July 20, 2022

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