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U.K. Inflation Rate Slows to 10.7 Percent


Britain’s inflation rate eased away from a 41-year high on Wednesday, but the slowdown brings only limited relief to a nation gripped by a deep cost-of-living crisis.Consumer prices in Britain rose 10.7 percent in November from a year earlier, bringing the rate of inflation down slightly from 11.1 percent in October, which was the highest annual rate since 1981, the Office for National Statistics said.Despite this tentative sign that inflation may have peaked, British households are being squeezed by high energy bills, food costs and mortgage rates, while wage growth is failing to keep up with inflation. Based on data that goes back to the mid-1950s, Britons are facing the sharpest decline in living standards on record over the next two years. That is prompting a growing wave of labor unrest. Railroad and postal workers are on strike on Wednesday over demands for higher pay, while nurses are set to walk off the job on Thursday.On a …

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