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Inflation in the U.K. Moves from an Energy Problem to an Everything Problem

Britain’s inflation rate reached a new 30-year high of 6.2% last month, triple the Bank of England’s target, government data showed Wednesday. The gains are no longer limited to energy, with big increases recorded for recreation, clothing and food. A survey showed 81% of households are experiencing higher prices, a finding that investors expect will spur the quickest rise in interest rates on record.