British prices on the rise as inflation soars toward 40 year high ...Middle East

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British prices on the rise as inflation soars toward 40 year high
Inflation in the U.K. hit a 40-year high as food prices rose by 14.6% so far this year, the fastest increase seen since 1980. An ill-fated package of tax cuts that roiled financial markets has been ditched, but a difficult winter is ahead, says Treasury chief.

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