UK inflation surges to new 40-year high of 9.4%

LONDON (AP) — Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis. The Office of National Statistics said Wednesday that consumer prices rose 9.4% in the year through June, up from 9.1% the previous month. The new figure is the highest since 1982, when inflation peaked at 11%. Bank of England Governor Andrew Bailey said Tuesday that the bank is likely to consider raising interest rates by half a percentage point at its next meeting to help control inflation. The bank last month raised its key rate by a quarter-point to 1.25%