Britains inflation rate hits record 4.4 per cent
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Published
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Mon, 18 Aug 2008 08:34
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London - Britain's inflation for July reached 4.4 per cent, the strongest-ever recorded level, the National Statistics Agency said Tuesday. The rate was driven by rising food and fuel costs. In June, inflation had stood at 3.8 per cent. The July level marks the highest annual inflation rate since Britain first officially began keeping records in 1997. Economists had predicted a rate of 4.1 per cent. The current rate is more than double the target of two per cent set by Britain's central bank.
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