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June 9: 'Worrying' UK inflation numbers
British output prices (also known as factory gate prices) rose 1.6 per cent in May, taking the annual rate to almost 9 percent. That's the fastest rise in 22 years, according to Reuters data, and highlights the tough task ahead for the Bank of England as it tries to dampen down inflation amid a slowing economy. Chris Giles, economics editor, analyses reasons for the rise and the impact inflation at this rate will have on the wider economy.