Inflation Climbs to 9.4 Percent in Britain, a New 40-Year High

Consumer prices in Britain rose 9.4 percent in June from a year earlier, intensifying the squeeze on household budgets as inflation continued to run at its fastest pace in 40 years.

Rising prices for food and motor fuels were the biggest reason for the jump in inflation in June, up from a 9.1 percent rate the month before, the

said on Wednesday. Motor fuel prices have risen more than 40 percent over the past…