Business

Britain’s annual inflation rate hit 9.1% in May. Food prices accounted for much of that, but road-fuel prices were up by 32.8%, year on year, the biggest such increase in that category since the data were first compiled in 1989. Britain already has the highest inflation rate among g7 countries. The Bank of England recently increased its main interest rate for the fifth consecutive time, to 1.25%. The squeeze on household costs is pushing up wage demands. Rail workers went on strike this week, crippling the rail network for five days. Nurses and teachers are also considering action over pay in a “summer of strife”.