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UK inflation to hit five-year high as airfare and fuel prices squeeze households

17
Oct
Evening Express Inflation is expected to surge to a five-year high when official figures are released next week as rising airfares, fuel and electricity prices ratchet up the financial pressure on households. The Consumer Price Index (CPI) measure of inflation is forecast to come in at 3% for
September, marking its highest level since April 2012 and on the cusp of forcing Bank of England Governor Mark Carney to publicly explain why the rate has risen to such an extent. Fuel prices are also expected to lift CPI – after Hurricane Harvey disrupted US oil production – adding to pressure from a 12.5% price hike by British Gas that took effect mid-September. 
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