Inflation In UK Spikes Up, US Likely To Look The Same

Posted: July 15, 2008 at 5:18 am

Inflation in the UK hit an annual rate of 3.8% and the price of the equivalent of a gallong of gas hit $8.50.

According to the AP, "Inflation in Britain hit a higher-than-expected 3.8 percent in June, up from 3.3 percent in May, official figures showed Tuesday."

Since the major pressures on prices in the UK, oil and commodities, are no different than they are in the US, America would seem to be likely to post similar numbers.

Douglas A. McIntyre

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