UK inflation rises to 9.4%, the highest rate since 1982

The latest increase means Britain had the highest rate of inflation seen in any Group of Seven advanced economy since 1985.

he Office for National Statistics said annual consumer price inflation rose in June to 9.4%, the highest since February 1982.

Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.

The Office for National Statistics said annual consumer price inflation rose in June to 9.4%, the highest since February 1982, up from May's 9.1% and above the 9.3% consensus in a Reuters poll of economists.