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manchestereveningnews.co.ukRising costs are hitting households from the poorest to the wealthiest, with more misery to come, a leading economic think tank warned.
The latest inflation figures from the Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 9.4% in June, up from 9.1% in May.
Torsten Bell, chief executive of the Resolution Foundation, which focuses on living standards, said the figures contained “bad news for everyone”.
Food prices were rising faster than the headline rate – at 9.8% – which was a “disaster for poorer households”, Mr Bell said, while soaring petrol prices were hitting wealthier families – fuel costs have increased 42.3% in the last year.
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