UK inflation hits 40-year record, highest in G7

STORY: UK consumers face an ever-higher bill for their weekly shop.

Inflation in the country hit a new 40-year high of 9.1% in May, with the rise driven by soaring food prices.

That leaves the country with the highest rate of inflation in the Group of Seven major economies.

And there could be worse ahead.

The Bank of England has said prices rises could hit 11% in October.

Now some investors judge the UK to be at risk of persistent inflation and recession.

That’s partly thanks to its large bill for imported energy, with prices driven higher by the conflict in Ukraine.

Some see that fuelling a so-called ‘summer of discontent’.

The country is already in the grip of sweeping rail strikes, as workers walk out over demands for higher pay.

Unions say teachers, medics, waste-disposal workers and even lawyers could take industrial action too.

Speaking after the inflation data, finance minister Rishi Sunak said the government was doing all it could to help combat the surge in prices.

But the government says demanding above-inflation pay rises will just worsen and prolong the problem.