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BBCNEWS BBC News at One June 4, 2024 13:02:00

Good afternoon. prices are rising at their fastest rate for more than a0 years, with the soaring cost of energy and food largely responsible. the inflation rate hasjumped to 11.1% in the year to october that s up from 10.1% the previous month. it puts more pressure on the chancellor ahead of his autumn statement tomorrow, in which he s expected to announce tax rises and spending cuts. here s our economics correspondent andy verity. at this environmentally friendly brewery and pub in stroud in gloucestershire, the raw ingredients aren t getting any cheaper. it wasn t long ago when the value of the pound really dropped, and overnight the prices went up 10, 12%. devaluation of the pound in the past year means businesses have to pay more in pounds to buy goods priced in dollars or euros, from hops to oil and gas. how much do you pay ....

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BBCNEWS BBC News June 4, 2024 09:15:00

In stroud in 6loucestershire, the raw ingredients aren t getting any cheaper. you know, it wasn t long ago when the value of the pound really dropped and overnight the prices went up 10 i2%. the devaluation of the pound in the past year means businesses have to pay more in pounds to buy goods priced in dollars or euros, from hops to oil and gas. how much do you pay for a bag of these? it varies anywhere between sort of £15 to £40 a kilo. the biggest rise is our power. electricity has doubled over the last year. 6as has gone up at least by half. 0ur raw materials, so malt and hops, cans, labels, they ve gone up between 10% and 15%. 6lobal inflationary pressure is now coming home in higher wage costs as employers pay more to compete for an unexpectedly small pool of available workers. labour, we re a living wage employer. lowest wages have gone up by 10%. for us that s at least sort of 40, 50, £60,000 a year additional costs, ....

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