UK economy: Rachel Reeves’ failed Budget triggers shock inflation rise | The Daily T

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The UK’s inflation rate spiked to 3% in January, dealing a significant blow to Chancellor Rachel Reeves and raising fresh concerns about Labour’s economic strategy. With the Government pressing ahead with costly net zero policies, increasing national insurance by £25 billion, and significantly raising the minimum wage, many are questioning whether this surge in inflation was inevitable. Rising prices continue to squeeze households and businesses, fueling fears that the economy is heading for a

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