U.K. Inflation Tops 10%, Underlining Gloomy Outlook for Europe

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The U.Ok.’s annual price of inflation moved into double digits in July and is about to rise even larger by the top of the yr, heaping greater pressure on stretched family budgets and threatening a prolonged financial contraction.

That pickup in inflation has been replicated in different elements of Europe, at the same time as client costs have began to slow in the U.S. That’s as a result of vitality costs have continued to accelerate across Europe as Russia withholds provides of pure gasoline, with the continent going through a doable crunch this winter.

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