Chancellor blames expected rise on fuel price increases but maintains inflation will halve by end of 2023

The chancellor, Jeremy Hunt, has said the UK may experience a “blip” increase in inflation this month, as data suggested that average fuel prices have jumped back above £1.50 a litre.

Hunt said the government is on track to hit its target of halving inflation by the end of the year but suggested the rate of price rises could spike when the latest figures for August are published in September.

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Source: The Guardian